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Small Business Insurance Page 2
TYPES OF INSURANCE
There are a variety of coverages available from different companies, with different premiums and deductibles. There are, however, four major types of property/casualty coverage that are considered to be essential for most businesses: general liability, property, workers' compensation, and automobile.
Liability Insurance
Liability insurance may be one of the most important types of insurance for a business. It protects your business from financial loss due to bodily injury or property damage caused by negligence of business operations (which may include acts of the owner, acts of the employees on the job, business conditions, or products of the business). In some cases, businesses may be subject to damage claims even when "reasonable care" was used. A few examples of liability coverages available include the following: products and completed operations liability, commercial general liability, personal injury (which includes libel and slander), professional liability, employment practices liability and pollution liability.
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