Commercial Insurance

If you are a business owner, commercial insurance is a necessity. It is a crucial component in reducing your risks as a business owner and ensuring proper financial protection for you and your employees. This article will help you find important information and answers to the most common questions about this type of insurance.

What Are the Types of Commercial Insurance?

There are five types of business insurance:

• Commercial property insurance. It protects either your personal or rented commercial building.
• Commercial auto insurance. If you have any vehicles used for business purposes, this insurance covers them.
• Commercial general liability insurance. It helps cover claims if you or your employees cause property damage or injuries to others.
• Cyber insurance or data breach insurance. It covers your company's losses if personally identifiable information was stolen.
• Business income insurance. It replaces your income if you cannot operate your business for specific reasons.
• Business Owner's Policy (BOP). It is a combination of general liability, property, and business income coverage.

How Much Does Business Insurance Cost?

Certain factors have an impact on the costs of commercial insurance, including the following:

• The type of your company
• The number of employees
• Location of your business
• Payroll
• Risks exposure
• Years in operation

There might be some other factors that affect the cost of your commercial insurance. You need to talk to an insurance agent to know the actual rate.

What Is Not Covered by Commercial Insurance?

Commercial insurance has certain limitations and does not cover everything. For example, it does not cover damage caused by natural disasters and significant weather events.

Matt Montowski - Your Reliable Insurance Company in Ohio

Not sure which business insurance policy is right for your business in Ohio? Contact Matt Montowski to help you find a policy you need. Our knowledgeable and experienced insurance agents are ready to assist you and provide the information you need. Visit our office or give us a call to learn more.