You have to consider several things while setting up a new business. As insurance advisers, we at American Insurance believe that your business is never properly functional or secured if you don’t have an insurance cover. Getting an insurance cover should be a top priority for your business as you never know when disaster strikes. American Insurance is one of the most reliable insurance providers in New Jersey and its surrounding areas including Clark, East Brunswick, Edison, Union, West Orange, Westfield and Woodbridge NJ. Let’s take a look at the different types of insurance covers you could consider for your business.
Insurance Covers for Businesses
- Liability Insurance – Liability Insurance protects you from potential losses that may be the result of injury or damage of property. There are various types of liability insurance and each includes different elements suitable for different business. Check with us what liability coverage best suits you. We have general liability schemes, excess liability insurance, product liability and professional liability insurance.
- Key Person Insurance – Whether a business is a sole proprietorship or opened in partnership, you must think about insurance. A key person insurance helps in case the proprietor or partner falls ill, meets with an accident or death and it affects the business severely. You can also have key person insurance for others in the business such as workers compensation insurance, wholesaler insurance, pay as you go workers compensation insurance etc.
- Disability Insurance – You can also get a disability insurance which will help ensure that your business runs smoothly even after an unfortunate situation stops you from working. It is however important you understand the word ‘disability’ as mentioned in the insurance cover.
- Fire Insurance – One of the mandatory insurances you should have for your business is fire insurance. Typically such a policy will cover the loss of contents.