Business Insurance

Business insurance is one of the four main types of insurance - vehicle, home, life, and business insurance. There are three basic types of business insurance: property, general liability and people. Property insurance covers your business’ building against loss associated with fire, vandalism, lightning and other unforeseen mishaps. Liability insurance covers a business if it is sued for something that it did or did not do that caused personal injury or property damage. People insurance includes two types of insurance. First, worker’s compensation insurance covers an employee’s job-related injury or illness. The second type of people insurance is health insurance.

All of these types of business insurance are taken out at the owner’s discretion, except for worker’s compensation. Worker’s compensation insurance is usually required by the state government – a policy designed to protect the employees of the business.

Business insurance is one of the most important assets a business can have. The protection provided by business insurance is not just for peace of mind, but is also smart business. With any business decision, you need a professional that knows the laws associated with your type of business.

At Ray Backhouse – Lifespan Financial Services we have unique partnerships with a number of experienced and professional insurance firms that can provide you with the specialist advice for your particular situation. This network of professional services ensures that your interests are coordinated in a manner that delivers the best results across all aspects of your financial circumstances.

Business Insurance

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