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Jul 3, 2010


There are five types of insurance that all entrepreneurs need for their business:

1.  PROPERTY INSURANCE WITH PROVISIONS FOR ACTS OF GOD AND MACHINE BREAKDOWN- This protects the facilities used by the business, such as shops and factories.  It also provides protection against risks to property, such as fire, theft, some weather damage and machinery breakdown.

2.  BUSINESS INTERRUPTION COVER- This covers cases of temporarily moving one's business location.  This is particularly useful during disasters, when operations are disrupted, forcing the evacuation of a business.

3.  LIABILITY INSURANCE- This offers specific protection against third party claims- payment is not made to the insured, but to someone suffering loss and who is not a party to the insurance contract.  In general, damage caused intentionally and contractual liability is not covered by liability  insurance policies. 

4.  PERSONAL ACCIDENT INSURANCE FOR THE WORKFORCE-  This provides coverage for accident injuries to employees, and is particularly helpful for companies with delivery personnel.  This typically covers costs of hospitalization and medicine.

5.  MARINE CARGO INSURANCE-  This offers protection for the products of manufacturers and traders who ship and transport them to different locations.  It covers the loss of damage of ships, cargo, terminals, and any transport or property by which the cargo is transferred, acquired, or held between the points of origin and final destination.

To choose the right policy for business insurance, entrepreneurs must understand the risks their businesses face . There is a business insurance in Arizona that has a reputation for settling claims in a fair and timely manner.  There is assurance to do business with Maryland home insurance company.

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