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    What Is A Business Insurance Policy And Who Should Take It?

    By cooldude | February 2, 2014

    Business Insurance PolicyWhat is business insurance? You might be familiar with auto or home insurance but what you don’t know is that- in case you own a business, a business insurance policy is much needed. Much like your home or car, your business venture too involves considerable investment on your part and hence you must take the necessary steps to keep it covered. Thus, business insurance can be defined as a kind of insurance which is meant to protect your business in case it incurs damage or loss.

    Now, business insurance is a broad umbrella covering several kinds of insurance policies under it that are designed to look after several aspects of your business.

    Property insurance

    This is meant to protect your business property & its contents in case your office is damaged somehow. Moreover, the business property insurance policy also provides coverage others’ properties under your control.

    Casualty insurance coverage

    The casualty insurance is often offered in a package along with property insurance. However there ‘s a sharp distinction between the two- while the property coverage looks just after the business location the casualty insurance covers any loss or damage incurred to the lives in the business premises.

    Liability insurance

    The liability insurance is meant to protect the business owners if he or his company is sued on the ground of negligence.

    Workers’ compensation

    This insurance is meant to take care of your employees affected by on-job injuries. This is especially needed for businesses involved into construction, mining or companies involved in heavy-duty jobs.

    Insurance for business interruption

    This insurance policy is meant to support the businessman in case he is having problems with cash-flow resulting in serious interruption is everyday business operation.

    Business insurance is a must have for every business owner today. According to experts, every businessman, regardless of the size and industry of his business should make sure to take up a business insurance policy.

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