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While you may have the basic insurance policies in place, such as property and generalliabilityinsurance, there are several other essential insurance policies that you might be overlooking. That’s why it’s crucial to consider other insurance policies to protect your business comprehensively.
Here in Plano, TX, Paragon Independent Insurance Agency aims to simplify this process by breaking down essential terms you need to know to protect your business effectively. Understanding GeneralLiabilityInsuranceGeneralliabilityinsurance is a must-have for any business.
Familiarising yourself with the various types can help you craft the most effective insurance package: – GeneralLiabilityInsurance : Covers third-party bodily injury, property damage, and advertising injuries. – Property Insurance : Protects physical assets from perils like fire, theft, and vandalism.
. – Workers’ Compensation Insurance: Mandatory in most places, it covers medical expenses and lost wages for employees who get injured on the job. – ProfessionalLiabilityInsurance: Also known as Errors and Omissions Insurance, this covers businesses against claims of negligence or harm resulting from professional services.
It covers legal defense costs, settlements, and judgments, allowing you to focus on running your business without the fear of crippling lawsuits. There are various types of liabilityinsurance, including generalliability, product liability, and professionalliability.
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