Business Insurance
Business Insurance
-q6ejhv.jpg)
Every business comes with its own share of financial risks, losses and hazards that may harm your business. Since risks are an unavoidable part of a business, you may secure your business against certain risks by buying a business insurance. You simply have to pay a premium for a specified tenure to insure your business for a sum of money (sum assured).
A business insurance is a type of insurance that allow the policyholder to secure his/her business against natural calamities, thefts, loss of income, death or injury of employees, damage/loss of equipment or any form of judicial proceedings.
Types of business insurance:
- 1. Professional liability Insurance
- 2. Home-based business insurance
- 3. Product liability insurance
- 4. Vehicle insurance
- 5 . Property insurance
- 6. Worker’s compensation
- 7. Business Interruption Insurance
Who can purchase business insurance?
Business insurances cover all sectors and business types including start-ups. some of the major buyers of business insurance are as follows:
- 1. Restaurants 2. Retail stores and wholesalers
- 3. Trading companies 4. Distributors and contractors
