Commercial insurance can simply be described as insurance that protects businesses. However, many business owners do not think about commercial insurance because they are confused by the different forms commercial insurance comes in. If you have a business in Maryland, you can get commercial insurance that covers the following:
Liability insurance ensures that any injuries caused to third parties. It comes into play when another person sues your business for property damage or personal injury. Having a liability insurance will ensure that the cost of solving the suit is covered. Having a general liability policy will cover a number of risks such as when a customer gets injured in your premises. You never know when things could go wrong.
Having a business interruption insurance policy will cover any losses the business might incur if the business’s operation is ceased. For the business interruption insurance policy will come in play when the business can show that they lost income for a given period of time whether days, weeks or months. The policy will compensate the business for the amount of income they would have received if there were no interruptions.
For any business or company, their employees are their most valuable assets. However, some employees can be dishonest and there is a possibility of your employees disclosing customers confidential information and this could result in being sued. Fidelity insurance policy will, therefore, cover any unauthorized activities resulting from the activities of an employee
Workers compensation insurance is all about your employees remember business cannot run without employees. This cover will help cover any death benefit in case an employee dies or medical treatment cost if an employee is injured when conducting their duties for the business. Workers compensation insurance will also cover disability in case the accident leaves the employee disabled.