Business Insurance
What is Business Insurance?Most people are familiar with insurance for their personal home and automobile. This coverage protects you financially in case of an accident or disaster to your home or car. We are familiar with these types of insurance because it is natural for most people to realize that they would be unable
to replace their home tomorrow if there was a fire or to replace their automobile if there was an accident.
Business insurance is nothing more than spreading and managing the risk among many business owners. Insurance companies take in premium payments from many covered businesses, invest those payments, and create a pool of money to pay out to a covered business if that business has a covered loss.
Business insurance is a broad description that encompasses these different types of policies. Because there are so many different types of coverage it is confusing. But, at the very basic level, the concept is the same – the management of risk
The same principle applies to business insurance. The principle is one of risk. There are risks that, while they may never occur, are so destructive that it makes sense to plan ahead and manage the risk. In our personal lives these risks are often more easily foreseeable.
Types of Business Insurance
Whether or not you need these types of home-based business insurance depends on what kind of home-based business activities you're engaged in.
Professional liability insurance protects both you and your clients. If a client claims to have suffered damages through your actions as a professional, your professional liability insurance will shield your personal assets and pay for your defense against such a claim. Such coverage also ensures that a client who has suffered damages will be adequately compensated.
There are many different types of professional liability insurance that home-based business owners may need. Malpractice insurance protects you from damages caused by a treatment that goes wrong. While we immediately tend to think of professionals who provide medical and health-related services such as doctors, dentists, and physiotherapists, when we think of malpractice insurance, there are actually many other home-based practitioners who may need such insurance, ranging from hairdressers through dog groomers.
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Imsurance
I recently bought a property in London, and i’m wondering what company to go through for the right insurance. I have spoken with Landlords Insurance
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