One thing that every business owner should understand is that every company is at risk of losses associated with an injury on their company property. Employees and customers alike can suffer injuries for various reasons, which is why it's so important for your business to have adequate insurance protection. If you're not really sure what your company needs for commercial insurance, here's a look at a few things to consider for ensuring protection in the event of an injury.

Standard Business Liability 

Liability insurance is typically a part of every commercial insurance package. In fact, when you insure your commercial property, that policy often includes liability coverage for injuries that occur on the covered property. However, the liability included with your commercial property coverage is often insufficient for the potential losses associated with a commercial liability claim. You'll want to be sure that your business is adequately protected, which means investing in an additional liability umbrella policy for your business.

Product Liability

Businesses that manufacture or sell products are inherently taking on risks associated with those products. If a consumer or employee suffers an injury as a result of the product—provided they were using the product the way that it was intended—your company can be held liable for a defective or unsafe product. That's why you should have product liability coverage.

Product liability also applies to bakeries and similar food businesses. If there's any risk of illness from your food products, including allergen exposures, product liability insurance is essential for protecting your company's financial stability.

Workers' Compensation

Although every state has its own requirements for employers to provide workers' compensation insurance, it still earns a mention when it comes to creating adequate corporate insurance packages. Remember that, when an employee is injured at work, your company is typically liable for their medical costs and lost work pay. Your workers' compensation policy will cover those costs.

Event Liability

For businesses that hold events, whether they are team-building events for employee morale or even large-scale sales events, you'll want to talk with your commercial insurance agent about event liability as well. That way, your business is covered for any liability exposures for the event whether it's on your business property or anywhere else.

These are some of the most important coverage options that every business needs to protect the company against losses associated with injuries or accidents. Talk with a commercial business insurance company today for more guidance.

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