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Business Insurance Basics: Terms Every Owner Should Know

Paragon Independent Insurance Agencies

Moreover, it protects your business from lawsuits related to workplace accidents, fostering a safer work environment. Professional Liability Insurance Explained Also known as errors and omissions insurance, professional liability insurance is vital for service-based businesses.

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Protect Your Business: 5 Essential Insurance Policies You Might Be Overlooking

Protect Commercial Insurance

With the increasing frequency and sophistication of cyberattacks, having cyber liability insurance is essential to protect your business’s sensitive information and maintain the trust of your customers.

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Essential Business Insurance Guide: Safeguarding Your Property From Cyber Threats

Protect Commercial Insurance

Product liability insurance protects against claims arising from defective products your business manufactures or sells. Professional liability insurance , also known as errors and omissions insurance, is crucial for service-based businesses and protects against claims of negligence or inadequate work.

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Insurance Considerations for Home-Based Businesses

Mark Jackson Insurance Agency

For instance, businesses that involve manufacturing, hold substantial inventory, or offer professional services (such as consulting or financial planning) might need policies tailored to their specific risks.

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How To Save Money On Your Commercial Insurance

Protect Commercial Insurance

. – Workers’ Compensation Insurance: Mandatory in most places, it covers medical expenses and lost wages for employees who get injured on the job. – Professional Liability Insurance: Also known as Errors and Omissions Insurance, this covers businesses against claims of negligence or harm resulting from professional services.

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What are the most important questions to ask when choosing business insurance?

Protect Commercial Insurance

. – Property Insurance : Protects physical assets from perils like fire, theft, and vandalism. – Professional Liability Insurance : Also known as errors and omissions insurance, this covers claims of negligence or malpractice.