Types of Commercial Insurance You Need to Protect Your Business

Business owners face difficult and unique circumstances that require specialized insurance tailored to their needs. Commercial insurance policies protect small and large businesses from unexpected events, including items dealing with liability and property damages. In Sandy, UT, Wasatch Preferred offers a variety of commercial insurance options for you to choose from for your business.

Types of Liability Coverage

  • General Liability Insurance – also known as Commercial Liability Insurance can be useful if someone is hurt or injured as a result of your business operation. For example, if a customer slips on a spill in your store, you may be liable for the cost of damages.
  • Product Liability Insurance – allows companies that manufacture products to feel secure if their products are defective and cause injuries to customers or clients. If airbags deploy unexpectedly, the auto manufacturer could be at fault. Product liability ensures that the manufacturer could be covered in this example.
  • Professional Liability – is insurance that includes companies who provide services. Protection could include claims made for negligence, malpractice, or errors.

Additional Coverage for Your Business

Commercial Property Insurance involves damages to your business property. There are two types:

  1. All-Risk – covers all damages except those that are specifically listed on the policy.
  2. Peril Specific – covers everything that is actually listed on the policy. Some examples that could be named in a peril-specific policy include fire, theft, and vandalism.

When you run a business from your home, Home-Based Business Insurance is a good option. Your homeowner’s insurance may not necessarily cover losses for a business-related property.

Talk with the professionals in Sandy, UT concerning your commercial insurance policy. Wasatch Preferred independent insurance agents can help your business succeed by modifying your current policy or beginning a new one to suit your needs. Give us a call or visit our office today!