The Basics of Commercial Insurance

When you are starting your business, you are so excited about getting things together that purchasing commercial insurance may be the last thing you think about. However, having a commercial insurance policy should be one of the things to have on your to-do list. You worked so hard in starting your company, so don’t let the unthinkable, like natural disasters or lawsuits, destroy what you’ve worked so hard for. 

Having said that, you should know that there are many types of commercial insurance coverage available. Nevertheless, the following are the basics of commercial insurance: 

1. Liability Insurance

Also referred to as errors and omissions (E&O) insurance, this insurance protects against negligence claims from harm resulting from performance failure or mistakes. 

2. Property Insurance

This insurance covers property that you lease or own in case of theft, storm, or fire. Earthquakes and floods, however, are usually not covered. 

3. Home-based Insurance

This type of insurance is unique and does not operate like commercial property insurance. So, hiring a reliable insurance agent can assist you if you have a home-based business. 

4. Worker Compensation Insurance

This insurance coverage should be added when you hire your first employee. With this coverage, your employees will have a disability, medical, and death benefits if the employees have work-related injuries or died as a result of work. 

5. Vehicle Insurance

It is important to ensure your company vehicles are covered as well. 

6. Property Liability Insurance

If you are selling products to the public, it is vital to have product liability insurance. There are tons of stories throughout the history of various companies getting sued due to damage claims from customers using your product. In many of these cases, companies lost the lawsuit.  

7. Business Interruption Insurance

When it comes to pandemics or catastrophes, company operations may stop. And as a result, they won’t be able to gain profit, pay employees, and pay for bills. Thus, this insurance coverage is very important. 


When it comes to commercial insurance, these commercial insurance coverages are the foundation. However, in some cases, more coverage may be needed.

For more information about commercial insurance, contact Town & Country Insurance. Located in Buford, GA, Town & Country Insurance has been serving Buford GA and surrounding areas since January 2010. They are also partnered with multiple insurance carriers. Contact them today!