Business Insurance

Business insurance is a method of risk management that transfers some risks of losses by the business to an insurance company through a periodic premium payment.

While insurance is necessary for any sized business, it can be especially crucial for small business owners. Many small business owners have their own personal financial well-being tied up in the company. Without proper insurance, small businesses are susceptible to events that can interrupt business functions, cause financial losses or even bankruptcy.

While a large company might have one or more people devoted to risk management and purchasing insurance, at a small business that often falls to the business owner. Working with an insurance agent, a small business owner can determine what potential liabilities are and tailor insurance needs to those liabilities. The type of business and its associated risks factor into how much insurance a business might need.

As a business owner, you have enough on your mind without having to worry about your insurance needs. You want to have the confidence that the business you’ve built is covered by a company that understands your business insurance needs.

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There are several types of business insurance. A business might purchase many different types or bundle them into a Commercial General Business Liability plan.

Commercial business insurance provides wide-ranging protection for businesses and their subsidiaries under a single policy. There are various types of commercial business insurance that take care of property, liability and workers’ compensation, to name a few. While property insurance covers damages to business property and products stored within the premises; liability insurance provides coverage for damages to third parties; and workers’ compensation insurance covers injuries to employees.

Commercial business insurance is an important aspect of any business that cannot be ignored especially if the business premises are leased or rented and even otherwise. Whatever your commercial insurance needs, we can design a protection program that’s right for you.

Liability insurance comes in two forms: general liability and product liability. General liability refers to business-related injuries suffered by employees or customers that are determined to be caused by a company’s negligence. Product liability occurs when merchandise is defective or services are poorly performed.

Richter Insurance offers free, comparative quotes on Business Insurance from multiple insurance carriers so you can get the best possible rate.

Want to see how much we can save you? Just request a quote to find out.