What Types of Coverage Are Available Under Commercial Insurance?

Many Minnesota residents are entrepreneurs since the state has numerous business opportunities. Commercial insurance is a must-have if you have a business and want to protect it from financial loss. Commercial insurance encompasses many coverages, each protecting specific perils. At Central Lakes Insurance Brokers in Edina, MN, we suggest you include coverages that give your business maximum protection in your commercial insurance. Some types of coverage that you should prioritize are: 

  • General liability coverage: This coverage protects you from claims related to your business operations. For instance, if someone is injured on your business premises or you damage their property, general liability will compensate them for their injuries or losses. 
  • Workers’ compensation coverage: This coverage takes care of medical expenses, lost wages, and related losses if your employee gets injured while working. It will also compensate you for your legal defense in case the employee sues you. 
  • Commercial property coverage: This coverage safeguards your business assets from theft or damage. For instance, if your business computer is stolen, commercial property coverage will pay to replace it. 
  • Professional liability coverage: This coverage shields your enterprise from the cost of injuries or damages that happen due to the professional services you offer. For example, if your clients claim that your failure to provide appropriate services caused them to incur a loss. The coverage will also compensate your legal expenses in case your clients sue you. 
  • Commercial auto coverage: This coverage protects your enterprise from the costs associated with injuries and damages caused by vehicles you utilize for business purposes. For instance, commercial auto coverage will compensate you and the crash victims if your business vehicle is involved in an accident. 

Do you need commercial insurance in Edina, MN? At Central Lakes Insurance Brokers, we have been helping businesses get suitable commercial insurance for years. Contact us today, and we will help you safeguard your business financially.