WESOS Ask Jade July 2024 IL Business Insurance
June 21, 2024
Business Insurance
An inherent risk of owning a business is liability for accidents and mistakes. You or your business could end up responsible for compensating losses from a variety of issues like defective products or the destruction of workplace property. You can significantly reduce that liability using business insurance. There are many kinds of business insurance policies, each of which can protect your business from specific types of liability. Some of the most common policies include:
- Commercial property—Covers losses resulting from the damage or destruction of
- business property, including real estate, machinery, documents, income, etc.
- Product liability—Covers losses resulting from personal or property injuries caused by products manufactured, distributed or sold by the business.
- Professional liability—Covers losses resulting from business errors, negligence and malpractice.
- General liability—Covers losses resulting from general legal hassles, including personal injury.
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