What Is Covered by Commercial Insurance?

If you currently own a small business in Hilliard, OH, you may be curious about what the benefits of a commercial insurance policy would be. Stanley Insurance Group says that a commercial insurance policy is designed to protect your business, your company’s assets, and your business’s future. Here is a little more information about what business insurance covers.

Liability Coverage

When running a business, a mistake can happen at any time. Of course, when a mistake results in the loss of money for your staff members or customers, you could be held liable for any related damages as well as legal fees. Liability coverage provides the funds needed to cover the expenses.

Property Coverage

If you have a storefront, then it is imperative you have property coverage. For example, if your building suffered a significant amount of damage, a commercial insurance policy can help take care of the costs of repair or replacement. Essential equipment is covered under this policy as well. However, it is important to understand that certain forms of damage may be excluded from your policy, so make sure you know what is and isn’t covered by your policy before purchasing.

Loss of Income Coverage

In order to be successful financially, you must generate income. However, if your business is deemed not operational for whatever reason, you will have no income coming in. Luckily, lost insurance coverage can supplement your income until you are able to open back up and begin to serve your customers once again. This can come in handy if your property requires repairs in order to operate again.

If you have any questions about commercial insurance in Hilliard, OH, or if you are ready to purchase a policy, contact our team at Stanley Insurance Group.