Business and commercial insurance to help protect your company
Your business is your source of income and something that you must protect at all costs. One way to protect your business is through commercial insurance. You and your business face many challenges and also many risks. When things go wrong you need the right business insurance to cover your back. For best value business insurance in Clark, East Brunswick, Edison, New Jersey, Union, West Orange, Westfield and Woodbridge NJ you should consult with the experts at American Insurance.
Commercial insurance is by its very nature a complex subject. When you throw in the legal stuff and the confusing jargon it gets even more complicated. Mistakes with business insurance can be costly. Either you could end up paying too much for your commercial coverage or could find yourself in a situation where something you thought you were covered is actually excluded. That is why it is a good idea to deal with a professional and independent agency such as American Insurance.
Business insurance usually consists of a number of policies such as a business owner’s policy, workers compensation, general liability, errors and omissions, commercial auto, commercial property, group benefits and professional indemnity. Now that is already quite a lot to get ones head around.
Some of the things can be combined in a business owner’s policy. For example your BOP could cover your general liabilities and your property. Loss of income due to business interruption can also be included. This type of policy is suitable for small and medium businesses but not for big organizations or corporates.
Knowing exactly what you are covered for and what is excluded is important. You should also know what the limits of your coverages are. Business insurance will only cover you up to a specified limit. If you need more than that it will need to be a specified condition or you may need some form of umbrella insurance.