GEICO is primarily an auto insurance company that enjoys the position of being the second largest in the country. Having said that, GEICO has a lot to offer than just auto insurances. It has branched out successfully, and today, it provides other essential policies such as vehicle insurance, property insurance, and business insurance. In this article, you will learn about the different types of business insurances that you can get at GEICO.

Business owners insurance
Managing your own business is no cake walk. To top the responsibility, you must choose the right insurance policies. This is when the business owners policy (BOP) comes into the picture. This insurance covers two main concerns: property damage and liability insurance. The insurance covers following aspects:

• Property damage like damage to office computers
• Defence cost for liability losses like in case of slander and libel
• Protection of office equipment and furniture

The best part about buying GEICO’s business insurance is that once you buy it, you need not worry about maintaining and keeping it up to date, as the company does it for you.

General liability insurance
The General Liability Insurance is also commonly referred to as the Business Liability Insurance or Commercial General Liability. This is a type of business insurance that helps you be properly insured and protects your company. Some other factors included in the insurance are:

Defence cost – It is a common occurrence that rivals sue companies for slander or libel. By taking up this insurance policy, GEICO gives you an attorney representation who will fight your case irrespective of whether you are at fault or no.

Medical payments – If you are physically injured, this policy will get you covered.

Damage to property & third party – In case of a fire in a place you rented for work, or in case of any damage caused to your client during business operations, the insurance will cover the cost.

Professional liability insurance
Making mistakes is common in every business. There might come a time in your career where your professional advice or service harms your client. In such cases, if the client sues you, then the professional liability (PL) insurance or errors & omissions (E&O) insurance will protect you.

The PL insurance comes in handy in following scenarios:
Lawsuit cost – If the opposite party sues your company, this insurance provides you with the defense cost irrespective of whether you are at fault or no.

Covers important people of the business – The policy covers the employees, temporary work staff, and freelance contractors that work with your company.

Some businesses that can benefit from this type of insurance are health counselors, beauticians, travel agents, photographers, personal trainers, IT consultants, and many such diverse work groups.

Workers compensation insurance
Workers compensation insurance is one of the most important business insurances for you and your employees as it gives financial protection in case of a job-related accident or occupational illness. The insurance is made compulsory in many businesses. Depending on the type of the company, some of the common things covered are as follows:

• Medical costs
• Lost wages
• Benefits in case of death
• Cost incurred in case of rehabilitation

Workers compensation insurance is an invaluable asset that acts as a safety net that protects everyone involves in your business.

Commercial auto insurance
Commercial auto insurance is quite different from personal auto insurance when you compare the coverages. This type of business insurance has different coverage, eligibility, and exclusions than the regular auto insurances. Companies need to have a commercial auto insurance for vehicles that are used for business operations. The vehicle could be a food truck, service utility truck, or a car used by employees for the commute, they all need to be insured under the commercial auto policy. If you want to add one of your office trucks or cars in the insurance, you can do it with ease by simply logging into the commercial auto insurance policy on GEICO’s website.

Ridesharing insurance
GEICO’s ridesharing insurance is a one-stop point if you are looking for auto insurance for multipurpose reasons. Your personal auto insurances do not include “driver for hire” facilities. However, with the ridesharing insurance, you can use the car for personal use as well as for part-time earning by starting a ridesharing service. In short, the ridesharing business insurance bridges the gap between personal driving and driving round-the-clock for some extra income by having them both insured under one policy.

GEICO is known for giving affordable insurances to the consumers directly online or through calls. If you think that you can manage your own insurances, then you can consider buying insurances from GEICO.

The company has a user-friendly website, mobile-friendly app, and a great virtual assistant named Kate, who will take you through the whole process of buying insurances.