It doesn't matter if you are opening a large business or a one man operation, you will need to have commercial insurance. You need to have insurance for all of the things that could potentially go wrong when you are a business owner and liable for your work. The type of service or products you sell will alter what type of insurance you need. Here are a few things you want to ask your insurance agent about.

Product Liability Coverage

Are you selling products to consumers, even if you're a third party or middle man? If so, you may be liable for an injury or another problem that occurs with the problem you sell. You want liability coverage to protect you if someone's product is faulty or causes harm.

Service Liability Coverage

If you are an accountant and make a large accounting error, someone may sue you and say you're liable for expenses the error caused. If you are a real estate agent, someone may say you are liable for the delay in the sale of their house, causing them to lose it to foreclosure. You need to have protection so you are covered if any of these lawsuits come about.

Property Insurance

Do you have a small business location? Do you do most of your business out of your home? You want to have property insurance in case any of the items you sell are damaged, or any of the items that you use for work are damaged. Your insurance agent can look at the equipment you have and other items to determine how much coverage you need.

General Liability

You could end up getting into an accident while you are transporting work related items, or someone could slip and fall walking into your commercial property. These are things that are going to cost you a lot of money if the person is injured or wants to sue. General liability will protect you financially from unexpected problems that pop up over time.

There are a lot of different responsibilities and worries associated with being a business owner. You can avoid financial defeat when one of these incidents arrives if you have all of the necessary insurance coverage. An agent from a firm like Paris V Mastroddi, Inc can help you with insurance for all of the automobiles associated with your company, along with medical insurance, unemployment or pension insurance and other things you may not even know need coverage. 

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