Running a business can be quite a commitment, as you are exposing yourself to a variety of financial risks. However, purchasing the right combination of insurance coverage can help guard against sudden financial costs and lawsuits. Understanding some of the most important types of business insurance that you should hold and what exactly they protect you from can help you avoid sudden financial troubles down the road. Property Insurance Property insurance is the largest and widest type of business insurance policy available on the market, and many different types of policies exist.
You keep a copy of your insurance policy in your file drawer, but do you know how to read and understand the policy? Having an insurance policy will protect you from losses, but it won't protect you from all losses. To get a better understanding of what your policy will and will not cover, read through this blog. You will learn about all different types of insurance policies and learn the terminology used in the documents that you have read. Hopefully, by the time you have read through the content here, you will know exactly where your insurance policies are lacking so you can make changes.