Types of Business Insurance Every Company Should Know

Illinois businesses encounter different risks, and choosing the right insurance can be overwhelming. Your coverage needs may depend on your industry and daily operations. Cornucopia Insurance helps you review your business insurance options and choose coverage that fits your goals.

Essential Types of Business Insurance

Below are common business insurance coverages that companies may consider:

General Liability Insurance 

This policy may help you with claims of third-party bodily injury, property damage or personal injury that may happen on your premises or because of your operations. It is often required by landlords, clients or partners and can help with lawsuit costs.

Commercial Property Insurance

Commercial property insurance can cover your building, equipment, inventory and other physical items, regardless of whether you own or lease the space. It may also help with losses caused by events such as fire, theft or vandalism.

Workers’ Compensation Insurance

If you have employees, you may need workers’ compensation insurance. This coverage can help cover medical bills and part of lost wages if an employee is injured or becomes ill due to their job, and it may also assist with specific legal claims.

Professional Liability Insurance

Also called errors and omissions insurance, this coverage may help if you provide professional services or advice. It can help cover legal costs if a client claims your work caused them financial loss.

Business Interruption Insurance

If a covered event forces you to close or reduce operations, business interruption insurance can help replace lost income and pay ongoing expenses. This support may help you keep your business going during recovery.

Learn More About Business Insurance

Contact Cornucopia Insurance today to discuss your coverage and get a free personalized quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.