Business Insurance in Bountiful, Utah
No matter what business you have, you’re probably aware that you could experience lawsuits, costly losses and property damage arising from your everyday operations. Business insurance exists to provide coverage for losses with the potential to bankrupt your business.
The solution is just a few clicks away. Contact Axcess Insurance in Bountiful, Utah, for more information on how our business insurance coverage can provide peace of mind and financial security.
What Is Business Insurance?
Business insurance is a legally binding agreement between you and your insurer in which they agree to provide financial support for covered losses in exchange for your premiums. Business insurance can be especially beneficial for small business owners with a large financial stake in their business.
If you own a small- or mid-size business, you may be eligible for a business owner’s policy (BOP), which bundles core business insurance policies together at a discounted rate. Contact Axcess Insurance to learn if your business meets the requirements for a BOP.
What Does Business Insurance Cover?
Owning a business comes with risks. Business insurance is a type of package policy that can provide broad coverage for numerous risks arising from business operations. It can provide financial protection against property damage, employee lawsuits, allegations of negligence and much more, depending on the types of business insurance coverage you select.
Types of Business Insurance
Many types of business insurance can be bundled to protect your company. Here are some common types of business insurance coverage:
- Employment practices liability insurance can cover legal fees arising from allegations that your business engaged in unlawful employment practices with current, former or past employees (e.g., discrimination, wrongful termination).
- Commercial property insurance can pay for repairs or replacements if your business property is damaged from a covered peril.
- General liability insurance may protect your business from costs associated with allegations that you caused property damage or bodily injury to a third party.
- Professional liability insurance can pay for costs associated with claims that your business made mistakes while providing services to a customer or client.
- Workers’ compensation insurance may help pay for legal fees, medical expenses, lost wages and other costs associated with an employee’s work-related injury or illness.
- Cyber liability insurance may cover costs resulting from cyberattacks (e.g., credit monitoring for customers).
- Business income insurance can help pay for lost income (e.g., loans, employee payroll) if your business must temporarily close due to property damage.
- Commercial auto insurance can cover expenses (e.g., property damage, bodily injury) related to a car accident by you or your employees during the scope of typical business functions.
Get Business Insurance
We’re here to help you find the right business insurance for your company. Contact Axcess Insurance today to learn more about the business insurance coverage we provide and to speak to an insurance agent today.