Commercial insurance coverage is an important insurance product that covers businesses from various losses that arise from property damage, employee injury, theft, fires, and so much more. Commercial insurance is available in several forms, and your choice will be determined by the type of business you run. A typical tradesman business will probably require more coverage than a small online business since the risk levels vary. DMV Insurance Agency Inc. offers a wide range of commercial insurance policies in Maryland and surrounding areas.
Commercial Insurance Coverage Options
Commercial insurance can cover professional indemnity and public liability, which are very critical for large businesses. Any business that has at least one employee is required by the law to take up worker’s compensation insurance. Additionally, if you own one or more business vehicles, you are required to carry commercial auto insurance to operate them on public roads legally.
What Commercial Insurance Option Do I need?
Every business, large or small, can only operate safely by taking up a general liability plan, professional liability coverage, product liability, and commercial property plans. If you have employees, you will also need workers’ comp insurance, and if you do deliveries, you need commercial vehicle insurance.
General liability insurance will protect your business from lawsuits resulting from accidents, injuries, slander, or libel when your business is found responsible. Manufacturing businesses will require product liability insurance to safeguard the business against claims of errors, malpractices, or negligence. If you operate a brick-and-mortar business, you need to protect your building against risks like fires, vandalism, civil disobedience, theft, and other natural disasters by taking up commercial property insurance.
Other than the coverages discussed above, there are several other commercial insurance coverage types that your business may need based on your line of operation. They include Product liability, Business interruption, IT equipment, Stock, Plant machinery, and much more. Contact us at New Era Insurance Agency Inc. in Maryland and speak to one of our knowledgeable agents about the commercial insurance coverage options we offer.