Insurance for Business: Packages to Save You Money

Insurance for Business: Packages to Save You Money

There are various types of insurance that you need as a business owner. When you want to try and save money, it’s a good idea to bundle policies. The business insurance packages will provide you with all you need so you don’t have to worry about whether or not you have the right coverage in place. Find out what four policies are found in the packages.

The Types of Business Insurance

There are four different types of insurance you should carry as a business owner.

  • Property insurance. Property insurance is very similar to homeowners insurance in that it is going to cover the building and the land. You will cover losses due to fire, flood, theft, and natural disasters, and cover the contents of your business, which includes office furniture and electronics.
  • Business auto insurance. Any vehicles that are owned and operated by the company need to be insured, and will work similarly to standard auto insurance, in that it will cover repairs and replacement in the event of a crash, theft, and more.
  • Worker’s comp insurance. Florida law requires you to have workers comp. It’s going to cover the medical expenses as well as employee wages in the event that they are hurt on the job.
  • Liability insurance. In the event someone hurts themselves on your property, liability insurance is going to check you. It is also going to protect against lawsuits that may come as a result of business.

How to Save with Business Insurance Packages

Insurance companies will often provide discounts if you purchase more than one policy with them. This means that if you were to get all four of the different types of business insurance policies separately from different companies, it could end up costing significantly more than if you were to get them all from one company.

This is why it is advantageous to explore business insurance packages. You take advantage of the bundling discounts. It is also a good idea to establish a working relationship with an independent insurance agent. They will be held to help evaluate your deductibles based upon what is going on with your business, and establish the amount of coverage that you need. Further, they can explore other discounts that you may qualify for based upon organizations you belong to as well as the industry you work within.