|
|
What is Business Insurance?
Home » Small Business » Business Insurance » What is Business Insurance?Business insurance is a part of the four main types of insurance. Auto, home, life, and business insurance are the trunk that the other types of insurance branch out of. There are three basic types of business insurance. The types of business insurance are property, general liability and people. Property insurance covers your business’ building loss in association with fire, vandalism, lightning and other unforeseen mishaps. More of the business property insurance may be purchased for less likely events such as floods and other natural disasters for an extra fee. Liability insurance is coverage for a business if it is sued for something that it did or did not do that caused personal injury or property damage. People insurance would include two types of insurance. First, worker’s compensation insurance would cover an employee’s injury or illness that is job related. Health insurance would be the second type of people insurance.
All of these types of business insurance are obtained at the owner or owner’s discretion save one, worker’s compensation. This type of business insurance is required by the state government designed to protect the employees of the business. However, Texas is the only state that does not carry this requirement for its businesses.
Related Business Insurance Articles
- What is Business Insurance?
- How do I choose the right Business Insurance?
- What is the most common type of Business Insurance purchased by small businesses?
- What Business Insurance options are available that pays for health care?
- What are some ways to lower Business Insurance cost?
- Where can I get comprehensive information about Business Insurance?