Front Light Insurance

Business Insurance: What Kind is Right for My Business?

There are many different types of insurance designed to fit every kind of business and need.

It’s great to have many options when deciding which coverage is right for you, but sometimes it can be overwhelming.

Luckily, insurance brokers can help guide you through the process and pick out the insurance coverage that works best for you.

Read on to discover the different types of business insurance and talk to the experts at FrontLight Insurance for more information.

Commercial General Liability Insurance

A commercial general liability policy is a policy that you will be glad you have decided to go with if something goes wrong on your business’s property.

If you own a store or building that customers enter frequently, it’s a good idea to have this type of policy. If a patron sues due to an accident or slip and fall, a general liability policy will usually cover the costs of defending yourself and the cost of settling the claim. 

The value of the commercial general liability policy you go with depends on many factors including the value of your company and the type of property your business is located on.

For example, things can become tricky when your business if located in your home. You should also be aware that this type of policy will not cover suits from injuries that arise from a product the company has manufactured.

A broker from FrontLight Insurance can help you work everything out and decide if a commercial general liability policy is right for your business and exactly how much coverage you will need.

Product Liability Insurance

In the scenario we outlined above, in which a product manufactured by your company causes injuries or accidents, you will need a different type of insurance to cover any suits that might arise.

Product Liability Insurance is especially important if your business is not incorporated and losses could extend to your personal liability. The difference between sellers, manufacturers, and intermediaries create complex differences in this type of policy depending on which type of business you operate.

It’s important to talk to a broker to make sure you get the right kind of policy for your business.

Business Interruption Insurance

It’s important to protect your business against unforeseen interruptions arising from accidents, failure of equipment or even fires.

If any of these incidents happen, it could become impossible for your business to continue operating as usual for a certain period of time. Business Interruption Insurance can cover the cost of lost profits, operating expenses, and temporary relocation if disaster strikes at the wrong time.

If you have a business that relies on certain complex or expensive machinery, this type of policy is a great idea. It can protect your business and give you the means to keep an operation going in the event of a catastrophic event.

These are just three types of commercial and business insurance, and there are many more. If you want to effectively navigate the complex world of commercial insurance and do what’s right for your business, it’s best to trust the experience brokerage team at FrontLight Insurance.

We’ll sit down with you and help craft a policy and plan that protects you, both personally and professionally. Contact the commercial insurance experts at FrontLight Insurance and or give us a call at 310-684-5799.

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