Things you Should Know Before Signing with a Business Insurance Agency.
When it comes to businesses insurance, every business owner should know that there are three major types of policies. Most businesses have commercial liability insurance policies while others prefer fidelity insurance. There are also companies that carry business interruption insurance. As a reputable insurance agency, we strongly believe that every business owner should know at least the basics of each type of policy, before signing up with an insurance provider.
Choosing the right insurance plan for your business is a matter of determining what your special needs are, in terms of coverage. For instance, if the company officers, employees or independent contractors are entrusted with confidential information, then fidelity insurance is what you need. If the public visits your business premises, property insurance and liability insurance are beneficial.
Fidelity insurance covers unauthorized activities on the part of employees, technology risk, external fraud and asset protection. This type of businesses insurance policy is highly recommended for companies that allow employees access to confidential information. Fidelity insurance also protects businesses from dishonest employees. For instance, corporate directors and officers, bank tellers and cashiers, are generally covered under the employer’s fidelity insurance.
Commercial Liability Insurance.
This is the most common business insurance policy. It covers claims against the company by third parties. Such claims can be from injuries to third parties or accidents that occur on the company premises. Besides accidents and injuries, commercial liability insurance also covers damage to company products and property.
Business Interruption Insurance.
This is a more particular type of business insurance, but a very useful one. The business interruption insurance policy covers damage or loss that occurs when a business is forced to cease operations. The policy provides compensation for any income the business would have received when functioning normally. The capital injection received from the insurer helps the business get back on track.
If you’re interested in businesses insurance policies, call (321) 332-7090 and find out more about our services. Nationwide Insurance – Barfield Insurance is the most reliable insurance agency in Orlando FL. Choose us and you won’t regret it.