What is Business Insurance?

Answer:

Business insurance is coverage provided by an

insurance company that is designed to serve the needs of a business rather than an individual. There are several types, including:

Property coverage. This would include coverage for buildings and the contents within them. Business interruption coverage. Takes care that income won’t be lost if the place of business is destroyed by fire or some other catastrophic event.

Liability coverage. Covers negligent acts of employees and can provide coverage for damage to people and property as a result of faulty products produced by the business.

Business insurance policies should not be confused with professional liability plans. Plans such as Errors and Omissions policies and Medical Malpractice insurance cover this end of the spectrum of policies associated with business.


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