When you come to Storey Insurance to buy insurance for your Senatobia, MS business, you might think that the phrase commercial insurance refers to a single policy. Instead, it refers to a category of insurance with more than 25 options. Those options get pretty detailed.

Here we explain the specialized types of commercial policies, such as glass insurance, boiler insurance, malpractice, E&O, etc., and which business types need what type of coverage. Not every business needs every type, and it makes smart fiscal sense to only purchase what you need.

Commercial Insurance Specializations

• General Liability Insurance – Every business needs liability coverage.
• Workers’ Compensation Insurance – Every business that hires employees must legally obtain workers’ comp coverage.
• Professional Liability Insurance – Otherwise known as malpractice insurance, medical professionals, especially doctors and nurses, carry this policy. So do attorneys.
• Errors and Omissions (E&O) Insurance – Many physicians also carry E&O coverage if they make medical devices or fit them. Manufacturers also carry E&O.
• Commercial Auto Insurance – Any business that operates a vehicle as a part of the business, such as for deliveries or item pickup, must carry this insurance.
• Commercial Property Insurance – If you own a building used for business purposes, you need this coverage. Think of it as homeowners’ insurance for your office building.
• Business Owner’s Policy (BOP) – Most small businesses carry this policy that actually bundles the four most commonly purchased commercial insurance policies into one package and offers them at a reduced premium.
• Hired & Non-Owned Auto Insurance – Chauffeurs and those who drive a taxi, Uber, or Lyft need this policy.
• Tools & Equipment Insurance – Any business, such as carpenters, plumbers, electricians, computer programmers or technicians, etc. that relies on specialized tools and equipment needs this policy to protect it.
• Liquor Liability Insurance – Restaurant and bar owners need this policy type.
• Product Liability Insurance – Manufacturers of any type of product from makeup to motor oil, exercise equipment to tool belts, need this policy.

Give Us A Call

The term business insurance sounds simple, but its many types of policy complexify it. Contact Storey Insurance serving Senatobia, MS for more information on which policies you need to best cover your business.