Commercial Insurance

In simple terms, commercial insurance is an insurance policy that protects businesses against the unknown. It provides cover against losses, accrued from situations such as damage to the business property or injury to any of the staff members. This term is usually used to name major business insurance policies such as worker’s compensation and public liability.

Jose L Hernandez Insurance Agency LLC, Texas provides insurance services. Contact us today and get more information.

What Kind of Commercial Insurance Policy Does Your Business Need?

There are multiple types of commercial insurance, and the type you need is dependent on your business. For example, an ordinary tradesman may require more commercial insurance coverage than a professional author, as the risk levels are different.

It is important to note that professional indemnity plus public liability are covers that are worth considering for most types of businesses, whereas worker’s compensation insurance is a mandatory cover for any enterprise with one or more members of staff. The worker’s compensation insurance is a legal requirement, and failure to put it in place is a violation of the law.

Below are some of the different types of commercial insurance:

• Property insurance: it covers damage to physical business property.
• Worker’s compensation insurance: cover you in the event an employee gets injured while on the job.
• Debris Removal insurance: this covers the expenses of removing debris following a fire, flood, or any other natural occurrence.
• Inland marine insurance: Protects property in transit as well as property belonging to other people that I on your business premises.
• Business Interruption insurance: it pays for lot income incurred from the damage of property or losses.
• Builder’ Risk Insurance: this policy covers your business buildings while they are being built.
• Glass insurance: protects you against broken building windows.
• Law insurance: caters for the costs resulting from being forced to demolish and rebuild your building to code when it has been damaged partially.
• Crime insurance: this policy pays for any burglary, robbery, or theft of financial assets from the company staff and outsiders.
• Boiler and Machinery insurance: provides coverage for the accidental mechanical breakdown of boilers, equipment, and machinery.

Jose L Hernandez Insurance Agency LLC, Texas provides insurance services. Contact us today and get more information.