Business Insurance in Moline, IL
Business insurance is essential for protecting your venture from economic setbacks. The right business insurance policy may mitigate the financial burden of mishaps, such as in-store accidents and lawsuits over defective products.
What Does Business Insurance Cover?
Business insurance policies can be customized to fit policyholders’ needs. Standard coverage options include the following:
- General liability insurance may compensate third parties for bodily injuries or property damage your business caused and related lawsuits.
- Commercial property insurance may cover buildings, equipment and inventory against losses caused by events such as fire, theft, lightning and wind.
- Workers’ compensation insurance may provide medical and wage benefits in case of employee injuries or illnesses caused by work-related activities.
- Professional liability insurance may cover errors, omissions or negligence in professional services.
- Business interruption insurance may provide financial support when a covered event forces your business to close temporarily.
- Cyber liability insurance may cover legal and recovery expenses from cyberattacks or data breaches.
- Directors and officers insurance may provide financial protection for executives and board members facing business-related lawsuits.
- Commercial umbrella insurance may add liability coverage for claims exceeding the limits of other policies.
How Much Does a Policy Cost?
Business insurance rates vary depending on various circumstances. Insurers typically calculate premiums based on factors like the number of employees, annual revenue, claims history and the types of coverage you choose. Small, low-risk businesses might pay a few hundred dollars per year, while larger companies with greater risk usually have higher premiums.
Contact Us
Prepare your business for financial challenges. Start building your optimal business insurance policy. Contact Lohman Companies today to learn more.
|