The Top 4 Types Of Business Insurance

The Top 4 Types Of Business Insurance

Business insurance protects business owners against a range of possible losses including vehicles, travel, worker’s compensation and buildings. Businesses have much different insurance needs than a normal person and due to the range of different businesses in operation today, also require specially tailored insurance solutions. Since the range of insurance products available to business is so vast, this article will focus on small businesses and their insurance options.

The main types of insurance small businesses need are vehicle, property, liability and worker’s compensation. Worker’s compensation cover will usually be required by law if employees are working “danger jobs” such as road works, handling heavy machinery like cranes or similarly dangerous jobs.

Vehicle insurance cover

If your business requires you or your employees to travel using your vehicles, then business vehicle insurance is crucial. More expensive than personal vehicle insurance, business vehicle insurance covers the vehicles used for business travel. Business vehicle insurance is generally more expensive because a “regular driver” does not always need to be specified. This is due to the fact that business vehicles are often used by multiple employees and they also tend to travel more than personal vehicles.

Property insurance cover

Property insurance cover covers all your physical assets from loss. This may include