Question about business insurance

Submitted by joven222 on Fri, 07/11/2008 - 18:06

Is business insurance different from insurance that protects your business from fire or flood that can cause damage to your products and services? Or it is covered under a business insurance policy?

Posted: 19 Jul 2008 10:12 Post Subject:

Hi Joven
You can normally get a business insurance policy that includes coverage for your property (ie contents, stock, tools, equipment) and covers you for liabilility as well. Fire and Flood could be included in the overall package along with numerous other perils.

Some other business polices that can be considered include
- commercial auto
- Errors and Omissions (professional liability)
- Group Health insurance
- Employment Practices Liability insurance

My site has some very general information on Business Insurance that you might find useful:

Hope that helps!

*link deactivated as per the fourms rule-lakemen

Posted: 07 Oct 2008 08:14 Post Subject: Business health insurance

this kind of schemes are based on your insurance plan. Actually these all can come under business insurance but facilities may vary plan to plan.
some insurance plans protect you from loss in business and some other protect you from natural dissasters.
So its totally up to you to choose the right one.
(link removed-lori)

Posted: 15 Apr 2009 12:13 Post Subject:

ya both of them are same in most of the aspects

Posted: 15 Apr 2009 02:34 Post Subject:

if u want u can club the both by adding coverages to ur business insurance......or choose a business insurance plan which includes other calamities other than business loss..

Posted: 26 May 2009 12:34 Post Subject:

There are about as many business insurance products as there are on the personal side. You can even purchase insurance to protect the business in the event of a loss of income due to natural disasters, theft, fraud, etc. This would sort of be the equivalent of a unemployment / disability insurance product on the personal side.

When contemplating what service (or services) your business actually needs, ask yourself what if questions! What if I had to close my doors for a month due to a natural disaster? What if somebody stole all my client's credit card information? What if my partner was killed in an accident? What if the store burns down? What if my employees steal from me?

You basically need to think of all the horrible things that you never want to happen...and then protect yourself. Although you could quite easily get carried away with too many insurance should make sure that you have a rock solid foundation to build your business on!

Posted: 26 May 2009 12:59 Post Subject:

A sound and self explainatory comment chris!
To add a thing, business owners can now register with National Flood Insurance Program (NFIP) in order to get their upto $500,000 under commercial structural coverage and upto $500,000 under contents coverage of the NFIP program.

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