26 Types of Insurance Your Small Business Should Consider

If you’re a small or medium enterprise (sme) owner, you know how rewarding it is to be your own boss. building Running the show isn’t easy, but it’s always worth it. You love the responsibility and take great strides to protect your business in any way possible. That’s why you might want to consider our smart biz insurance package. An innovative and exclusive business insurance solution, we bundle several covers under one package for an affordable flat premium. This policy, underwritten by a leading insurer, is specifically designed for small to medium enterprises (sme’s). **smart biz insurance package is brokered by jmmb insurance brokers.

Work done by independent contractors or subcontractors liabilities assumed by contract the insurance company pays amounts the insured is legally obligated to pay as damages due to bodily injury or property damage that the insurance policy covers. It also has the right and duty to defend the insured against lawsuits that seek those damages. At its option, the insurance company can investigate any claim and settle any lawsuit that may result. Businesses are inherently risky. The good news is that some of the risks can be protected. Small business general liability insurance helps to safeguard your company against various known and unknown risks.

What is business insurance?

As a fitness or health club owner, your top priority is the health and wellness of your clients. You and your staff work closely with your clients, pushing them to be the best and healthiest versions of themselves. lawsuit But do you have the right insurance cover age to guarantee the health and wellness of your business? from medical accidents to falls in the weight room and broken equipment, there are many unique risks to running a fitness business. Whether you own a cycling studio, yoga studio, martial arts studio, or gym, you will need various forms of coverage to protect your clients, employees, and business.

It is essential to note that most commercial property insurance policies only cover personal property in or within 100 feet of the insured building. Landesblosch tip: a quick way to determine what is included under the building vs. Business personal property limit is to imagine picking up the building, flipping it upside-down, and shaking it. Whatever fell out qualifies as business personal property. The remaining building and permanently installed features of that building would be covered under your building limit.

Choosing a combination of insurance types

Homeowners insurance is an important financial investment that can protect your property against unexpected events. When buying homeowners insurance , it’s important to note that you can choose from several different types of insurance policies. Since each home and personal situation is different, not all policies, or forms, will be right for your needs. A homeowners insurance policy can be either a named-perils policy or open-perils policy, or a combination of the two. A named-perils policy covers a specific set of events (like flooding, fire, or wind damage), while an open-perils policy covers all potential hazards, except any specifically excluded in your policy.

What Types of Business Insurance Does Your Company Need?

The state of tennessee licenses many different types of insurance companies. To find out more information about a specific type of company, select from the options in the sidebar menu to the left.

What Isn’t Covered By These Insurance Policies?

Joel ohman, ceo, cfp® and founder of insurance providers one type of insurance that is often overlooked is travel insurance. Conversely, sometimes people buy travel insurance when they don’t need [it. ] … unless you are well familiar with the benefits you already enjoy with any of your other current insurance policies, credit card benefits, membership programs, etc. , then you could potentially end up buying a policy that has some duplication of benefits with what you already have. The vast majority of typical major medical health insurance policies only offer a travel insurance element to the extent that it involves emergency care.

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