Georgia is home to multi-international companies, small home-based businesses and everything in between. If you are a business owner you have a common need for commercial insurance with other business owners in the state. It’s time to make that commercial insurance easier to understand.
Let’s put commercial or business insurance into broad categories to better understand how it works.
Product Liability – This protects manufacturers from claims against them as the result of injuries or damage from a product they created. Unless you are producing a product, this would not apply to you.
Professional Liability – Professionals who provide services may need this coverage. It covers what are referred to as “errors and omissions”. These can include malpractice and negligence and is valuable for professionals like doctors and financial advisors.
General Liability – Most businesses can use some form of general liability. It can protect against injuries occurring at your business but can also cover issues like slander and legal costs associated with a lawsuit.
Property – Commercial property insurance comes in Basic Form, which spells out the coverage, and Special Form, which covers general perils and then specifically spells out what it does not cover.
Home-Based Business Insurance – You shouldn’t count on homeowners insurance to cover a home-based business. You may need separate small business coverage or inquire if you can get a rider on your homeowners policy.
If you have questions, please feel free to contact us at Peter Laczko Insurance. We can help you better understand the difference between business insurance coverage and may even be able to save you money.
Visit our website to get a comparative quote on your homeowners or auto insurance from our website. When you see the savings, we hope you will ask us to quote your commercial insurance. We look forward to serving you.
