Business Insurance Form

This type of coverage can provide reimbursement for the resulting medical, repair and legal expenses if your business is held liable for injuring someone or damaging their property. For example, if a customer slips and injures themselves on your property, business liability insurance can help pay for any medical costs or lawsuits that may arise from the incident. Such a policy can also be supplemented with additional coverage endorsements—including fire legal liability and employment-related practices liability—based on your business’s unique risks and exposures.

Gross income is the total revenue derived from sales of goods and services in a specified period.

“This form of coverage can help protect your business’s building, as well as any commercial property surrounding the building and the contents within. These assets may include fencing, signage, furniture, equipment and inventory. If a covered event—such as a fire, burst pipe, storm damage or vandalism—damages or destroys your business’s building or its contents, commercial property insurance can recoup the cost of rebuilding, repairing or replacing the property. Commercial property insurance policies typically utilize one of the following valuation methods: Replacement cost coverage pays for the cost of rebuilding, repairing or replacing your business’s property as new (with similar materials and quality), without any deduction for depreciation. Actual cash value coverage reimburses your business for the cost of replacing the damaged or destroyed property, based on the depreciated value of the building or contents prior to the incident.”

Business personal property (BPP) insurance offers financial protection for the repair or replacement of your lost, damaged, or stolen business property. It covers things like computers, furniture, and inventories.

This type of coverage can provide protection for the vehicles your business uses to conduct its operations—including cars, trucks, vans and more. Commercial auto insurance typically includes three forms of coverage: Auto liability coverage can cover medical expenses and legal costs in the event that you or an employee causes an accident that injures another person or damages their property.

Workers’ compensation provides medical expenses, lost wages, and rehabilitation costs to employees who are injured or become ill “in the course and scope” of their job. It also pays death benefits to families of employees who are killed on the job.