delaware business insurance

Two Simple Business Insurance Concepts Explained

Are you having a hard time understanding what business insurance options cover? While there are many options for business insurance, the underlying concepts are often elementary. Below are the two primary coverage categories that you can expect to come across when searching for Delaware business insurance.

Liability Insurance

Liability insurance comes in many forms. The most popular among them are general liability and professional liability. In all cases, liability insurance is meant to protect you in case a lawsuit is brought against you by a third party. This can be due to a visitor sustaining an injury in your building or your client claiming malpractice. Regardless of the case, your policy will cover any attorneys’ fees as well as any judgments or settlements that you’re required to pay.

Property Insurance

Depending on your industry, there are also multiple forms of property insurance available. Property insurance is meant to cover you in case any of your business property becomes damaged or lost. Rather than having to come out of pocket, your policy will pay to repair or replace your covered items. Property insurance usually covers fires, impending storms, fires, theft or vandalism.

Most of the coverages you’ll come across during your search will fall within these two categories. Be sure to work with an experienced agent to ensure that your Delaware business insurance policy meets your needs.

Insurance Risk Advisors