10 Must Have Insurance Covers For Your Business
8. Business interruption insurance
If any fire broke out or if some of your company machineries have stopped working and you are not able to run your business then what about the taxes, salaries and rent for those non working days? The answer is business interruption insurance. Any loss or damage to the cash inflow and profit made in business being unable to operate due to some interruption is taken care of by the business interruption insurance policy. Particularly for this insurance, the duration for a standard policy is twelve months; even long term policies are also available.
9. Casualty insurance
Casualty insurance provides coverage for any loss or damage to the business. Most often some of the insurers will combine property and casualty insurance together and refer the coverage as “property and casualty” insurance. Actually these packaged policies that have both property and casualty in it are one of the best policies to buy for your enterprise.
10. Umbrella policies
If you want an additional coverage along with other insurance policies that you have, then you can go for umbrella policies. In this type of insurance you get an extension in your existing insurance policy and the coverage you get is beyond your regular policy. Different kinds of claims like home owner’s insurance or auto insurance are covered in this policy. You will find these policies relatively inexpensive when compared to others, but this policy often require business owners to purchase the maximum limits on all other policies.
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