Commercial Business Insurance Quote – A look at the types of coverage in business insurance plans

There is no business too small that it cannot benefit from insurance. Irrespective of the size of your business, you should take the time to search for a commercial business insurance quote. However, the exact coverage you need, interest rates, etc. play a role in the type of quotes you get. Choose an insurer that offers tailor-made policies for your industry. Do your research and read reviews to make sure the company you choose is a good choice for businesses like yours.

What exactly is business insurance? It is a wide range of policy options put together to protect a company from financial losses. The possible causes of financial loss obviously vary from company to company

Here you will find an overview of some of the types of cover available. Some of these you probably need and some you don’t:

• General liability insurance (protection against third party liability claims for injuries to other people)

• Product Liability

• Malpractice / professional liability

• Contents insurance

• Work allowance

• Company car insurance

• Protection against cybercrime

• Loss of income

• Document Retention Policy

• Key personnel insurance, should the manager(s) become incapacitated for work

• Specialized coverage for things specific to your industry, as well as for one-day events such as concerts or seminars

Legal requirements in a commercial business insurance quote

Commercial insurance is usually required by law, but with certain conditions, which vary from state to state. In any case, you will need general liability insurance. Depending on your profession, your state may require you to purchase professional indemnity insurance. If you have employees, you will probably be expected to pay unemployment benefits tax under certain prescribed conditions if they are deemed applicable to your organization. You must therefore register your business with the employment office in your state.

Don’t just select the first cheap commercial business insurance quote you see. Your policy should be tailored to your business based on the risks and relevant legislation related to your industry. Work with an insurance company that takes the time to learn about your business so you get the best possible coverage to protect your business investments.

Since there are so many sites out there that all promise to offer the “best” commercial business insurance quote, it’s a good idea to start with Hiscox Business Insurance. Although a large insurance company, Hiscox does not view insurance coverage as a “one-size-fits-all”. It’s best to get coverage tailored to your industry and specific needs.