Business & Commercial Insurance
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Business & Commercial Insurance Information
Having appropriate business insurance helps guard a company’s financial stability, even when unexpected events trigger liabilities or large repair costs. Business insurance can be tailored to meet the needs of your organization to help provide the right protection for risks common to your industry.
Contact the agents at Benko Insurance in Livermore, California, today to learn more about how business insurance can help provide valuable financial protection for your company.
What Is Business Insurance?
Business insurance is several commercial insurance policies that a company can choose to purchase to help provide protection from various risks. These policies may help cover a company’s legal liability for third-party property damage or injuries. It may help pay for damages after a covered event such as a natural disaster, professional error, accident, liability lawsuit or workers’ compensation claim.
What Business Insurance Policies Do I Need?
Your company faces certain risks common to your geographical area or industry. Your agent can help you understand your business insurance policy options. Depending on your situation, they may recommend these standard business insurance policies:
- General liability coverage, also called business liability insurance, helps pay claims after an accident during everyday business. It helps cover your company’s legal liability for third-party injuries and property damage.
- Business property insurance, also called commercial property insurance, helps pay for damages to your company’s equipment and property after a covered accident or incident.
- Professional liability insurance, also called errors and omissions insurance, helps cover legal costs and claims if someone with your company makes a mistake while providing services to a customer.
- Workers’ compensation insurance helps pay for medical bills and may provide partial income replacement to your employees if they become ill or are injured in a work-related incident.
- Data breach insurance, also called cyber liability insurance, helps cover damages if your business is involved in a data breach or is the victim of hackers.
- Commercial auto insurance helps pay liability claims if your company is liable for third-party injuries or property damage. Depending on the coverage you choose, this policy may also help pay to repair or replace your company vehicle after an accident. Commercial umbrella insurance helps pay claims that exceed the limits of your other liability insurance policies.
Specialty insurance can help provide more targeted financial protection. Depending on your industry, your agent may also recommend:
- Hired/Non-owned Auto Liability Coverage (HNOA)
- Inland Marine Insurance
- Products/Completed Operations Liability Insurance
- Employment Practices Liability Insurance (EPLI)
How Much Does Business Insurance Cost?
Your insurance company may use various data to determine your company’s insurance premiums, including:
- Your industry
- Your company’s claims history
- Your location
- Your policy deductibles
Get the Business Insurance Your Company Needs
Contact the business insurance experts at Benko Insurance today to get the business insurance coverage your company needs.