Why Business Insurance is Important?
Running a business involves navigating a world of uncertainties. While your focus is on growth and success, unexpected challenges can disrupt your operations. Business insurance plays a crucial role here.. Despite its name, there isn’t a single “business insurance” policy that fits all companies. Each business has unique risks, requiring tailored solutions. Typically, insurance for businesses focuses on two key areas: property coverage and liability coverage. These are often combined into a policy known as a Commercial General Liability (CGL) policy. What Is Property Coverage? Property coverage is designed to protect the physical assets your business relies on, such as buildings, equipment, and inventory. It ensures that in the event of damage or loss, you can recover financially and resume operations with minimal disruption. Here are a few common scenarios that highlight the importance of property coverage: - A rented office floods, damaging your inventory and office equ...