When it comes to picking business insurance, it will be difficult to stay track of what you wish and what you don’t. Chances are you almost certainly have some kind of property insurance, which helps to cover you within the event of any broken or lost property. However, have you thought-about types of casualty insurance also?
The Main Distinction Between the Types of Casualty Insurance
The main difference between the 2 is that types of casualty insurance protects you by covering losses that result from direct accidents, whereas property insurance covers losses that result from events, such as theft. There are 3 main types of casualty insurance:
1. Vehicle Insurance
If your business involves vehicles, this is often a should. In most states, vehicle insurance is not only steered, it’s required by law. Depending on the policy, vehicle insurance will cowl personal injuries, property damage, bodily injury liability, collision and uninsured motorist coverage. You can conjointly get a comprehensive coverage policy that covers events such as flooding, theft, fires and additional.
2. Flood Insurance
In the aftermath of Hurricane Sandy, it’s terribly important that you think about obtaining flood insurance for your business. This will facilitate cowl the costs of the building furthermore everything inside of it. Flood insurance is important if your business is to pass through a natural disaster like Sandy.
3. Liability Insurance
Liability insurance can facilitate protect you from a range of risks, like being sued for unintentionally harming someone or for negligence. There are three sorts of liability insurance:
General liability, which covers libel, slander and any injuries that occurred on your property
Professional liability, which covers mistakes that are created on the job
Product liability, that helps defend your business against lawsuits and helps cover recollects in the event that one of your product was manufactured with a defect that caused damage to a personal.
Your business is too vital to go away it underneath-insured, thus contact our New Jersey freelance insurance agency nowadays!