What types of insurance are available to businesses?

Businesses in North Carolina have a variety of insurance options available to them. Common types of coverage include property insurance, which protects against losses due to damage to buildings and your business’s contents; general liability insurance, which covers losses due to negligence or injury of a third party; product liability insurance, which covers losses due to a customer’s harm caused by a defect in your product; and professional liability/errors & omissions insurance, which provides coverage in the event of a lawsuit due to mistakes or failure to provide results. Businesses may also need to consider purchasing workers’ compensation insurance, which provides coverage in the event an employee is injured on the job; vehicle insurance, which covers damage to vehicles being operated for business purposes; disability insurance, which pays the insured a portion of their salary when they’re unable to work due to injury or illness; and health insurance, which provides coverage for health care costs of employees. Additionally, some businesses may also need to obtain specialized insurance such as directors and officers liability insurance, cyber liability insurance, employment practices liability insurance, or umbrella liability insurance, depending on the specific business activities. It is important for businesses to speak with an experienced insurance agent to determine their specific needs and secure a policy that meets these needs. An agent will be able to provide information about specific policies and the cost associated with each, as well as any additional coverages that may be necessary for the business’s operations.

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What types of insurance are available to businesses?

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