Commercial Insurance in Atlanta – What You Need to Know
In order to avoid costly lawsuits, you should consider buying a business owners policy. This type of policy combines three basic coverages to protect your business. You can also customize the coverage to fit your business’ specific needs. General liability insurance in Atlanta protects your company from lawsuits alleging injury or property damage. Purchasing a business owner’s policy can help you save on insurance rates. But it is not the only type of policy you should buy.
General liability insurance
Obtaining an insurance quote is a simple process and requires only a few questions about your business. You can get a quote in under 30 minutes, and you’ll soon be covered for any legal actions. The insurance rate you receive will depend on your business’s size and type of product. Most small businesses should carry between $500,000 and $1 million in general liability coverage. If you’re running a home-based business or a startup, you can obtain a lower rate by becoming a self-insured.
Business income insurance
Coinsurance is a common option for business income insurance. It is calculated similarly to a coinsurance penalty, but allows the insured to pay a lower percentage of the claim. In general, it is better to select a higher coinsurance percentage than an unfavorable one. Generally, coinsurance applies to buildings, contents, and equipment, but it is often not feasible to reduce the policy’s limit.
Inland marine property insurance
Inland marine property insurance is important for businesses. This type of insurance covers your property and that of others while in transit. While standard property insurance limits its coverage to a certain distance from the business, inland marine insurance covers the property in transit far beyond the boundaries of your business. It can be helpful to your business in the event of a major incident. Here are some things to consider when choosing inland marine property insurance.
Business owner’s policy (BOP)
A business owner’s policy is a general type of commercial insurance policy that covers the property, movable property, and personal property of a business. Depending on the type of business, it may also cover the loss of income, covered expenses, and pollution cleanup. Business owner’s policies aren’t available to every type of business, and their eligibility requirements vary widely. In general, these policies are sold to small and midsize businesses in risk-free markets. The policy can include a variety of coverage limits, including a deductible.
Commercial auto insurance
A commercial auto insurance policy in Georgia protects your business from risks associated with operating vehicles. This type of policy covers your business’s vehicles, including hired and non-owned vehicles. While a personal auto insurance policy may cover you when you are driving to and from work, it does not cover any accidents that might happen on the job site. Therefore, a commercial auto insurance policy is vital for any business that uses vehicles on a regular basis.