Are you a business owner in Centennial, CO? Have you got your livelihood insured? If not, Compass Insurance can provide the protection you need.
But what is commercial insurance? Its coverage for corporations and businesses is designed to protect the business, its employees, and its ownership. This type of insurance comes in different configurations because of the many different needs of individual businesses.
There are many different types of commercial insurance. The most common are:
- Business interruption insurance
- You probably will lose revenue if your business operation is interrupted by a natural disaster, theft, or property damage. Business interruption protection covers events that may disrupt your earning ability. This coverage is ideal for all businesses as it is designed to return the business to its financial position before the loss.
- Commercial general liability insurance
- This coverage provides liability insurance for general business risks and should be the first type of coverage you should consider. It covers common threats such as property damage, medical payments, and bodily injury. You will be covered if your business is found to be responsible for a third-party injury or property damage.
- Cyber liability insurance
- You could face a lawsuit or lose revenue if you or a client is harmed by online activity. This coverage protects you from the four main types of risks depending on your scope of coverage: errors and omissions liability, media liability, network security liability, and privacy liability.
- Property insurance
- This provides coverage for your property and all the equipment. Tools, computers, desks, and other standard furnishings will be covered. It will also cover inventory.
Commercial insurance is necessary for all businesses, regardless of size. Let the insurance professionals at Compass Insurance answer any questions you may have or provide you with a quote. Contact our team today.
