All businesses across all industries can benefit from commercial property, liability and workers compensation insurance. But the additional coverage required to maintain a comprehensive business insurance portfolio varies from industry to industry. Why?
Insurance policies have limitations and exclusions that can create coverage gaps, which should ideally be filled in with additional policies to provide well-rounded coverage. Each industry has its unique risks, and therefore its unique coverage needs.
Here are a few examples of insurance policies that specific industries can utilize for optimum protection:
- Restaurants, bars, and clubs should consider liquor liability insurance, which covers the expenses associated with damages inflicted by intoxicated patrons. There are also policies related to food contamination and valet parking.
- An office environment may thrive under the guidance of a few highly experienced executive employees. The loss of these employees could threaten the profitability, or even the existence, of the business. Key employee insurance can offset losses and fund the search for and training of new staff members.
- Retail stores sell a variety of products, some of which may be defective or poorly tested. Product liability insurance protects against the expenses associated with a customer becoming injured or ill in direct relation to a product sold by your store.
- Trucking companies haul cargo, often all across the country. Like with passenger cars, commercially driven vehicles must be insured with commercial auto insurance. Various coverages exist to protect vehicles, drivers, and cargo.
Didn't see your industry here? Call one of our agents to learn more about insurance policies designed to protect the unique needs of your business.
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