Business Insurance

Business Insurance Policies

Chicago Insurance Advisors

If you're a business owner, you may have had to put in a lot of blood, sweat and tears into your organization to get to where you are today, and you don’t want to lose it through something beyond your control. This is the main reason small business owners have insurance on their business. Learn what Business insurance is, what it covers and how it can benefit you and your business.

Business insurance is a type of insurance that protects your business against many types of damage and losses, while also protecting you as the business owner. It protects you from financial risks that may occur due to an injured employee, death of an employee, a natural disaster or a lawsuit.

Although the coverage and cost of the insurance may vary among insurers, the biggest factor determining these two things depends on the size of your business and your individual needs. As a business owner purchasing insurance, here are the types you should consider.

Liability Insurance: This protects you and the business from being sued by others. It pays for legal fees and medical expenses that may arise from a claim or loss. If your business has vehicles, you may also want a policy for those as well. Property liability insurance is necessary if your business makes or sells products.

Property Insurance: This protects your property from physical damage due to fire, vandalism, theft or severe weather losses. 

Business Interruption Insurance: This will cover any loss of profit or income you may incur due to a covered loss and will also help you meet payroll and pay your bills. 

Workers Compensation Insurance: This type of insurance covers businesses that have employees, and it provides them with benefits if they’re injured on the job. 

Health Insurance: This provides health insurance to your employees and may or may not be required, depending on the state and the number of employees you have.

An insurance agent can help you decide what type of business insurance you need based on your business. The type you have isn't near as important as the fact that you have it if you own a business.

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