Business Insurance – Nationwide

As a business owner, you need business insurance to protect yourself, your employees, your customers, your assets and the future of your caller. Think about the high costs associated with worker injuries, lawsuits, impermanent clientele closures and data breaches. Without occupation policy, any one of those examples could jeopardize the future of your occupation. besides, your state may require you to carry certain types of business indemnity .

Types of business insurance products

Businessowners policy

A businessowners policy ( BOP ) combines business liability, commercial property, business income, and equipment breakdown coverages into one cost-efficient box for businesses. BOPs can be general in nature, or personalized to meet your business ’ second industry-specific needs. Standard BOPs include commercial property insurance, business liability insurance, occupation income insurance, or equipment breakdown insurance .
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Business liability

This type of coverage can provide reimbursement for the resulting medical, haunt and legal expenses if your business is held liable for injuring person or damaging their property. For exercise, if a customer slip and injures themselves on your property, business liability insurance can help pay for any aesculapian costs or lawsuits that may arise from the incidental. Such a policy can besides be supplemented with extra coverage endorsements—including fire legal liability and employment-related practices liability—based on your clientele ’ second singular risks and exposures.

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Commercial property

This mannequin of coverage can help protect your commercial enterprise ’ sulfur building, american samoa well as any commercial property surrounding the build and the contents within. These assets may include argue, signage, furniture, equipment and inventory. If a covered event—such as a fire, burst pipe, storm price or vandalism—damages or destroys your business ’ sulfur construction or its contents, commercial property indemnity can recoup the cost of rebuilding, repairing or replacing the property. commercial property policy policies typically utilize one of the follow evaluation methods :

• Replacement cost coverage pays for the cost of rebuilding, repairing or replacing your business’s property as new (with similar materials and quality), without any deduction for depreciation.
• Actual cash value coverage reimburses your business for the cost of replacing the damaged or destroyed property, based on the depreciated value of the building or contents prior to the incident.

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Commercial auto

This type of coverage can provide protection for the vehicles your business uses to conduct its operations—including cars, trucks, vans and more. commercial car policy typically includes three forms of coverage :

• Auto liability coverage can cover medical expenses and legal costs in the event that you or an employee causes an accident that injures another person or damages their property.
• Collision and comprehensive coverage can recoup the price of repairing your business’s vehicle(s) after an accident or other covered event.
• Uninsured and underinsured motorist coverage can help pay for any vehicle damages or injuries that result from an accident caused by a driver who doesn’t carry adequate insurance (if any).

Begin your commercial car indemnity quote
In the event that one of your employees experiences an occupational injury or illness, workers ’ compensation policy can cover their consort medical expenses and rehabilitation costs, and—in some cases—recoup a dowry of their lost wages from the incident. This shape of coverage can besides help pay death benefits to an employee ’ s family if they are killed on the job. For model, if an employee injures themselves while operating workplace machinery at your business, workers ’ compensation indemnity could cover their leave hospital bills and physical therapy costs. This coverage is required in most states, although specific policy standards vary .
This coverage can help you cover payroll, pay for resettlement expenses and replace lost income when a cover loss forces your business to close temporarily.

This coverage helps protects your business against, burglary, looting, forgery, calculator fraud, employee dishonesty and other crimes .
This coverage can help protect your business from employee lawsuits resulting in alleged discrimination, wrongful termination, harassment or other employment-related issues .
This type of coverage can help your business withhold expenses associated with a cyberattack or data rupture. These costs may include legal fees that result from the breach, expenses related to informing customers of the incident and investigating the cause of attack, and the price of recovering lost data or repairing damaged engineering systems .
Errors and omissions policy is a type of indebtedness coverage that protects your occupation against client lawsuits caused by alleged negligent acts, errors or omissions. E & O policy typically cover you, your employees and your subcontractors .
This coverage helps protect you against equipment failures, including mechanical malfunctions, ability surges and operator erroneousness, and any consort losses .
particularly useful in high-loss situations, an umbrella policy can act as an add layer of security to your occupation ’ mho liability policies. Such a policy can provide coverage when the price of a claim exceeds your policy ’ mho restrict of liability. For exemplar, if your clientele receives a $ 1.5 million general indebtedness claim after a customer injures themselves on your property, but your general liability policy limit is only $ 1 million, an umbrella policy could help cover the remaining $ 500,000.

This coverage helps protect your property in transit, ampere well as fine artwork and computer equipment and data .
This coverage helps protect your business against losses caused by the inability to collect payment from a customer, angstrom well as damaged accounts receivable records .
This coverage helps protect your construction projects throughout every phase, from groundbreaking to ribbon cut .