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Fida Insurance Group

244 Monroe Turnpike (Route 111)
Monroe, CT 06468

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Do I Need More than One Type of Commercial Insurance?

You likely need commercial insurance if you own a business, have customers, or operate in a commercial setting. The insurance protects your business assets, employees, and customers in case of a covered loss. For expert help, confer with Fida Insurance Group. The agency serves in Monroe, CT. 

Always consider property, responsibility, inland marine, commercial liability, and employee benefits. Inland Marine insurance is the most common type of commercial insurance. It covers the risk of transporting goods by land, sea, or air. 

What to Know About Commercial Insurance 

While most businesses are covered by commercial property insurance, it’s important to note that the policy doesn’t protect your business against every risk. For example, if your company manufactures products, you likely need product liability insurance to protect against claims if someone gets sick or injured using your product. If you are contracting with clients, you may also want to consider contractor’s risk insurance to protect your business against claims if something goes wrong on the job site. And if you have employees, you likely need workers’ compensation coverage to protect your company from claims if an employee is injured on the job. 

In today’s ever-changing business landscape, it’s essential to have insurance coverage that addresses any potential risks that your company may face. Depending on your business type and risk profile, you may consider purchasing a combination of commercial insurance policies to protect your company from various risk scenarios. When choosing commercial insurance policies for your company, ensure they offer the coverage you need to protect your business from different risk scenarios. 

Parting Words 

While there might be some overlap between the policies you choose, consider your business needs and the policy that best serves your needs. For example, let’s say you own a landscaping company and want to purchase commercial property and liability insurance to protect your business from risk. 

While both of these policies protect your business, they work differently. Property insurance covers the cost of replacing damaged or destroyed equipment, fixtures, and buildings if your business incurs a covered loss. For inquiries in Monroe, CT, call Fida Insurance Group.