What types of insurance are available to businesses?

Businesses in Indiana can purchase a variety of insurance types in order to protect against certain risks to their operations. Generally speaking, there are two main types of insurance for businesses in Indiana: liability insurance and property insurance. Liability insurance is designed to protect businesses from being held liable for damages resulting from an incident. Examples of liability insurance available to businesses in Indiana include general liability insurance, professional liability insurance, and commercial auto insurance. General liability insurance provides coverage for expenses related to incidents on the business’s premises or incidents caused by the business’s activities. Professional liability insurance helps protect businesses from financial losses due to errors and omissions within their profession. And commercial auto insurance covers any damage to company vehicles caused by an accident or other incident. Property insurance is designed to cover physical property that is owned and/or operated by the business. Examples of property insurance available to businesses in Indiana include business interruption insurance, fire insurance, and equipment breakdown insurance. Business interruption insurance provides coverage for loss of income due to events such as natural disasters. Fire insurance provides coverage for damages and/or losses caused by a fire. And equipment breakdown insurance provides coverage for damages and/or losses resulting from a mechanical breakdown or electrical failure in a business’s equipment. Overall, businesses in Indiana have access to a variety of insurance types in order to protect their businesses from certain risks. Liability insurance provides coverage for damages resulting from an incident, while property insurance provides coverage for physical property and related losses.

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