Insurance for your business is much more complicated than a personal or home insurance policy. The main idea behind insurance for your business is to protect you fully against any action that can harm your business if someone sued you for any reason.
Commercial Liability Insurance
Commercial liability insurance policies in Spartanburg, SC cover all the claims against your business from another party. This includes any accidents that occur on the business property in which a third parry is inured. In this case, the injured party may sue your business and your commercial liability insurance will cover it to protect your assets. Commercial liability policies may also cover damages to your products, your property and may even cover independent contractors on your premises.
Fidelity insurance protects you as a business owner from any dishonest employees. For example, a financial institution may allow some employees access to confidential information and employees may leak this information. Your fidelity insurance policy from Allsurance Group will cover the unauthorized actions of employees, protect your assets, protect your technology and protect you from external fraud. The fidelity bond is the portion of a policy that reimburses you as the owner of a business for any damages in these manners. For example, banks cover all their employees from the cashiers and bank tellers to the directors under this type of policy.
Business Interruption Insurance
The purpose of a business interruption policy is to cover losses or damages that occur when your business has to cease operations for some reason. You must prove what it is that caused the interruption for a certain amount of time. This policy compensates you for income that would have been received in the amount of time had the business been operational. This can be used in the event of a tornado or flooding or a hurricane, which all occur at times in Spartanburg, SC.
Sometimes you may need some help building your business insurance policy and at Allsurance Group, we are here to help you to protect your assets. Give us a call or come into the office to find out more about insurance for your business.