What Are the Different Types of Commercial Insurance Policies? - PowerPoint PPT Presentation

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What Are the Different Types of Commercial Insurance Policies?

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Commercial insurance offers protection to businesses against unforeseen losses that may occur during regular operations, such as lawsuits, natural disasters, or accidents. There exists a wide range of commercial insurance options catering to different business needs, including coverage for property damage, legal liability, employee-related risks, and more. Rider Insurance is an independent insurance company that has a team of commercial insurance agents in Maryland. – PowerPoint PPT presentation

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Title: What Are the Different Types of Commercial Insurance Policies?


1
What Are the Different Types of Commercial
Insurance Policies?
2
An Overview
Commercial insurance, alternatively referred to
as business insurance, offers protection to
businesses against unforeseen losses that may
occur during regular operations, such as
lawsuits, natural disasters, or accidents. There
exists a wide range of commercial insurance
options catering to different business needs,
including coverage for property damage, legal
liability, employee-related risks, and
more. Each company assesses its commercial
insurance requirements by considering potential
risks, which can differ based on the nature of
the business and its operating environment. It is
essential to familiarize oneself with the various
types of business insurance available and the
specific protections they offer. Rider Insurance
is an independent insurance company that have a
team of commercial insurance agents in Maryland.
They understand your needs and provide the best
commercial insurance policy.
3
Professional Liability Insurance
01
Following are the different types of commercial
insurance policies
Product Liability Insurance
02
Vehicle Insurance
03
4
Professional Liability Insurance
Professional liability insurance (PLI), unlike
general liability insurance that applies to any
business, is specifically tailored for
service-based businesses. This coverage is
intended to safeguard against losses stemming
from the services provided by the business. It
provides protection and financial support in
cases involving malpractice, negligence, or
errors, covering expenses associated with such
incidents.
5
Product Liability Insurance
Product liability insurance is crafted
specifically for businesses engaged in the
production, wholesale distribution, and retailing
of products. Its purpose is to safeguard
businesses from expenses incurred due to damages
caused by their products, such as bodily injuries
or harm resulting from a defective product.
Without product liability insurance, a business
may be exposed to the financial burden of costly
lawsuits.
6
Vehicle Insurance
It is essential to have insurance coverage for
any vehicles utilized in business operations.
Whether you own vans, buses, tractor trailers, or
passenger cars, insurance is necessary to protect
against potential vehicle or cargo damage as well
as injuries to others. Each state imposes a
minimum insurance requirement. Various factors,
including the driver's driving record and the
vehicle's condition, can influence the cost of
vehicle insurance.
7
Thanks!
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