Commercial insurance is a kind of business insurance that offers industrial and business solutions such as construction, telecom, textiles, manufacturing, shipping, logistics, and more. These solutions aim to provide net safety to the business operations, it also offers assets during the time of need. Commercial insurance covers the business, employees, and ownership. Therefore, commercial insurance comes in different shapes and sizes to fit in all the blank boxes. Check out the latest Maryland Commercial Insurance Information, by clicking here. Choose the best suitable insurance policy for your business.
How many types of commercial insurance are there?
Different businesses have different types of needs, and therefore, we have different types of commercial insurances. The most common commercial insurances include:
- Property insurance
Property insurance is one of the most common commercial insurance. Under this policy, the damages done to the commercial properties are covered. For instance, take a fire breakout at the office space this will get covered under the property insurance.
- Shopkeeper’s insurance
Under this policy, the damages done to the shop buildings and their contents are covered. The contents of the insurance policy might vary as per the policy wordings. Events such as burglary, housebreaking, and others will be covered under this insurance.
- Liability insurance
Under this policy, bodily or personal injuries, product liability, infrastructure damages, worker’s compensation, and others will be covered. Large MNCs opt for this policy. Liability insurance provides financial support to the business.
- Engineering insurance
Under this policy, engineering and construction risks are covered. The engineering risks involves power, construction, oil and gas, transportation system, and more. There are chances that some incident or accident might happen during the production, manufacturing, or shipping of the product.
- Automobile insurance
Under this policy, the loss or damage done to the commercial vehicles are covered like trucks, vans, cars, and more. This policy also covers injuries done to property and persons.
- Employee benefit insurance
Under this policy, the health insurance of the employee is covered. This covers the group insurance schemes as well as personal injuries.
- International insurance
Under this policy, the individuals that are traveling to the other side of the border are covered. Customized services are provided to the individuals or addresses cross the border. If the employees or partners often go on foreign business trips, then the company must have international insurance.
Click here to check the latest Maryland Commercial Insurance Information. Go through the insurance policies and choose the best for you and your business.
Casandra spends most of her time researching new recipes and creating unique meals for her family and friends. What she learns, she also writes about and shares them with her readers who are looking for content similar to what she creates.