General liability insurance policies typically cover you and your company for claims involving bodily injuries and property damage resulting from your products, services or operations. It may also cover you if you are held liable for damages to your landlord's property.
Professionals that operate their own businesses need professional liability insurance in addition to an in-home business or businessowners policy. This protects them against financial losses from lawsuits filed against them by their clients. ... Professional liability insurance is a specialty coverage. Depending on your business, you may hear the term errors and omissions insurance for professional liability. However, there is no difference in these coverages.
Commercial property insurance protects your company's physical assets from fire, explosions, burst pipes, storms, theft and vandalism. Earthquakes and floods typically aren't covered by commercial property insurance, unless those perils are added to the policy. Though landlords carry property insurance for their buildings, they won't take responsibility for any expensive business property a tenant keeps in the space. Even when it's not required, commercial property insurance is important for any small business that owns property.
Workers' compensation insurance, also known as workman's comp, provides benefits to employees who get injured or sick from a work-related cause. ... Without coverage, your employees can sue you for a work-related injury or illness to help pay for their medical costs or lost wages.
A commercial umbrella policy increases your liability coverage to provide extra payouts that help you cover substantial claims. This type of insurance can feasibly protect your company from any liability claim, including libel, reputational damage, vehicular accidents, product liability, or customer injury.
Medical Malpractice Insurance. Medical malpractice insurance is a specialized type of professional liability insurance that covers physician liability arising from disputed services that result in a patient's injury or death.
General contractor insurance protects against lawsuits and claims related to bodily injury, property damage, and other types of losses that can occur as part of a construction or remodeling project. Roofing: There are at least three different kinds of roofers insurance you may need: workers' compensation, general liability and a surety bond. You may need additional policies to protect your business and to reassure customers that you're a professional.
Habitational insurance is a special policy that is designed for commercial residential properties. ... You are not only responsible for the apartment or building that you rent but also the tenants and their visitors as well as any employees who help maintain your property.
Cyber insurance generally covers your business' liability for a data breach involving sensitive customer information, such as Social Security numbers, credit card numbers, account numbers, driver's license numbers and health records.