You cannot go without business insurance if you own a business. Doing so places you in a great amount of jeopardy. It is especially important to take out liability insurance to protect your business interests in case you get sued.
Types of Business Coverage
Commercial and business insurance products come in various packages. For example, the following products are purchased as coverages:
- Liability insurance policies in The Woodlands, TX offer broad protection for business-related operations.
- Commercial property insurance covers your building and property. It also can be taken out in the form of flood insurance or business interruption coverage.
- Business auto insurance covers your commercial vehicles.
- Worker’s compensation insurance enables you to pay for a worker’s medical disabilities if he or she gets injured on the job.
- Bonds are used to safeguard your assets through the promises of others.
Types of Liability Coverage
When it comes to liability insurance policies, you can choose from one of various options. These options are represented by the following:
- Errors and Omissions Insurance (E&O protection) covers business professionals for errors and omissions or negligence that damages the data of a third party or directly injures a client. This insurance is often chosen by professionals such as insurance agents, attorneys, or accountants.
- Employment Practices Liability Insurance policies, also referred to as EPLI insurance, covers employment-related liabilities outside of work injuries. Coverage can extend to damages and legal fees associated with discrimination, wrongful termination, or alleged violations of an employee’s rights.
- Directors’ and Officers’ Insurance or D&O insurance covers the directors and officers in a company for omissions, negligent acts, or misleading statements that lead to a lawsuit. You can choose from one of various policies. These policies are designed to provide protection for corporate reimbursement, entity coverage, or personal liability.
You cannot do business today without buying liability insurance or a business insurance product. A company such as Insurance Offices Texas has your back when it comes to coverage. Contact the company today at 800-419-3506 in Houston, TX for further information. You can pay a visit to Facebook for more updates!