Business insurance is a broad term that refers to all sorts of business specific insurance policies, which work in the exact same way as other insurance policies based on premiums and payouts once an event or time frame has occurred or past. There are literally hundreds of different business related risk and operations that can be insured against. Even if a business has a truly unique and new risk, insurance companies are often more than happy to assess the situation and offer a business insurance policy to best support the risk at hand. Despite this, there are usually nine or so categories that can be defined within the small business insurance umbrella. These include but are not limited to:
Like home related property insurance, this covers the business against damage to the physical premises and can also include the contents in specific agreements. Regular risks such as fire or natural disasters can be insured against, as well as unique business related risks.
This applies to big businesses that due to their structural size (sky scrape offices etc) would be at risk of sever casualties if the building collapsed r was involved in a natural disaster or act of terrorism.
Business Liability Insurance:
This will protect the businessís legal costs against being sued through an act of negligence or an accident that causes major loss.
Commercial Business Car Insurance:
Like regular auto insurance but for business related drivers and vehicles.
This is to protect the workforce against job related injuries, covering any injury pay, medical costs and lawsuit related costs due to negligence.
If an unforeseen problem occurs and the business cannot operate for a certain period, this covers the loss of income, whereas other polices just cover the direct cost of the accident.
Business Health Insurance:
Health insurance is now often seen as a perk and can be used as a way to hire important employees that have other offers on the table. This covers a host of different health related issues, even down to things more aesthetic like dental care.
This covers employees if they die on the businessís watch.
If an employee becomes disabled due to a work relate accident this will cover medical costs and possibly income for a certain period.
The best thing to do to compare business insurance rates is by getting online business insurance quotes or finding business insurance brokers.