Types of Business Insurance
http://www.millpoint.com.au/business
(1) Professional Liability Insurance
Professional liability insurance is to be insured against claims of negligence resulting from errors or failure to perform. Professional liability coverage is not one-size-fits-all. Every industry has its unique concerns which need to be addressed.
(2) Property Insurance
In the event of a storm, fire, or theft, property insurance will cover equipment, signage, inventory, and furniture. It does not, however, cover events of mass destruction, such as floods and earthquakes. If your area is at risk for such issues, you will need to have a separate policy.
(3) Home-Based Insurance
Homeowner's policies do not cover businesses based at home, such as commercial property insurance. If you are carrying on a home business, ask for additional equipment and inventory coverage.
(4) Product Liability Insurance
If your business manufactures products for sale, insurance against product liability is very important. Any company may find itself mentioned in a lawsuit because of the losses caused by their goods. In such cases, product liability insurance protects a business.
(5) Vehicle Insurance
All cars used for a business need full insurance. Business insurance should insure against third-party injury. Alternatively, comprehensive insurance will cover the vehicle in an accident too.
