Business Insurance Archives - Udell Family Insurance

Understanding, Importance of Having the Right Business Insurance Policy

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Understanding the Importance of Having the Right Business Insurance Policy

The Need for Business Insurance
Running a business can be highly rewarding; however, it has its risks. There are many risks associated with running an enterprise that can hurt your business if not prevented. All businesses, whether big or small, are at risk. Small and medium-sized enterprises (SMEs) tend to be at higher risk than large enterprises. As a small business owner, if your office gets engulfed in fire or a flood destroys your property, it may be difficult to redeem the loss since smaller businesses have fewer assets to draw from. A company in the growing […]

Why Business Liability Insurance Is Important for a Company

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Why Business Liability Insurance Is Important for a Company

What Is Business Liability Insurance?
Business liability insurance is a policy that covers financial liabilities incurred such as legal defense fees and protects the financial interests of the company and its owners when they face formal lawsuits or any third party claims.
As much as the business liability insurance helps cover certain unexpected expenses, the cost of coverage is still influenced by the type of business being insured and its location. For example, if a company is located in a flood-prone region, it would probably pay more.
There are three main types of business liability insurance, and […]

Exploring the Benefits of Business Interruption Coverage

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business interruptions

There are a lot of risks and responsibilities associated with operating a business. Managing these risks daily can become stressful. You also have to consider the threat of an emergency. Interruptions in business can cause significant problems to your financial bottom line, which is why you must consider the benefits of business interruption coverage.

Business interruption insurance helps protect your business during a disaster by covering your operational expenses. Your business is covered if you have trouble paying a loan, your inventory, rent, or taxes. Business interruption coverage also helps you manage payroll while your finances are uncertain. The policy […]

Understanding the Different Types of Business Insurance Policies You May Need

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Types of Small Business Insurance

The standard types of commercial insurance include property, liability, and workers’ compensation. However, other types of small business insurance options are available.

A business insurance policy is required by U.S. law if you have staff because it protects your business in times of trouble. There are stipulated coverages but based on your particular circumstances, you may need additional specialized coverages.

Different Types of Commercial Insurance

The seven types of commercial business insurance are identified below:

General Liability Insurance – All small businesses require a liability insurance policy. Liability insurance covers you if a product you provided, or service […]