Business insurance is an essential investment for a business owner as it protects the owner from potential monetary losses. So, like other securities, business insurance is necessary for defending a business from the unexpected events. There are countless options available in the country when it comes to business insurance. Although different insurance companies have various coverage options, the level of the protection one gets depends highly on the type and size of the business. The cost of the insurance also varies depending on the industry, location, and the number of employees. While choosing a business insurance owner can look for advice from experienced brokers or agents. The following are the primary business insurance coverages you can find in the market:

• Coverage for the property
  It is necessary for every business and covers any commercial property or building from where business is operated. This coverage insures against the damage of the property caused by fire, theft and natural disaster. And it includes the premises of the company (owned or lease) along with the equipment like furniture, computers and other major assets.
• Coverage for general liability
  Any business requires general liability insurance. It covers several claims including physical injury of the owner or employees, property damage, medical payments, protection from the legal action, personal and advertising lawsuits.
• Product liability coverage
  This coverage insures defective products of the business and any harm or injury caused by using these products.
• Professional liability coverage
  Commonly known as errors & omissions (E&O) in the country, it covers the cost of defending against the claims of negligence initiated by a client. It can be required by professionals expert in a specific field such as doctors, lawyers, accountants, engineers, etc.
• Workers compensation coverage
  This provides medical expenses and death benefits to the workers while they get injuries or die during work. Workers compensation policies vary statewide.
• Commercial vehicle insurance
  This coverage protects vehicles those are used in the business. When an accident occurs involving vehicles, it covers the personal injury and the business loss along with the damaged vehicle.
• Umbrella coverage
  This includes every loss related to the business those usually are not covered by the other policies.

These coverages can be customized since most of the business insurers have different options of coverages to meet the necessity of various types businesses. Following are some well-known insurance service providers:

• American International Group (AIG)
  A multinational insurance corporation spreading over 130 countries, AIG business insurance policy offers a broad range of highly specialized coverages for all sizes of businesses. Cyber coverage of AIG against threats and attacks is well known. Some significant coverages of the company offer protection against environmental exposures, management liability, property damage, professional liability, student insurance, and political risk insurance.
• Allied Insurance
  A well-known individual and commercial insurance provider, in 1998 Allied Insurance merged with Nationwide Mutual Insurance. Allied has a vast choice of business insurances. It has coverages for both small and large businesses and includes all the standard protections. Allied auto insurance is one of the best options for a company which mainly depends on vehicles. Along with the typical coverages, additional coverages of Allied auto insurance comprises coverage for new vehicle replacement, auto loan or lease coverage, rental vehicle reimbursement and expanded towing. Property insurance coverage of Allied also has some additional coverages such as – builders risk, building ordinance and law, business income, equipment breakdown, flood insurance and utility services interruption coverage. General liability coverage of Allied has some extra protection plans such as expanded property damage, hired auto liability insurance, employment practices liability insurance, etc. Allied umbrella insurance policy covers the exceeded limits of an underlying liability insurance and helps the financial future of the business.
• Nationwide Insurance
  A widely popular small business insurer and a commercial insurance carrier in the country Nationwide provides customized insurance coverage solutions to their customers. Business owner policy (BOP) of Nationwide includes property insurance, liability insurance and other standard coverages in a single package. Nationwide BOP is an ideal option for a small business insurance. One can consider the coverage options separately also. Nationwide’s comprehensive and customized auto insurance policy has a solid financial rating. This policy covers all kind of business vehicles damages, medical payments, collision damage, rented or borrowed vehicle damage, uninsured and underinsured motorists coverage. Other reliable business insurance policies by Nationwide are general liability insurance, commercial property insurance, workers compensation, crime insurance, umbrella insurance, income insurance, etc.
• Insureon
  Insureon, a commercial insurance provider, is one of the best insurance platforms for the small businesses of the country. By filling out the online form customers can get the access to the quotes from multiple carriers. General liability insurance of Insureon covers third party bodily injury, third party property damage, product liability and advertising injury. Insureon professional liability insurance (also called errors and omissions insurance) covers the cost of work mistakes, undelivered and neglected service. Insureon has an affordable insurance package option, a business owner policy (BOP) that combines commercial property insurance and general liability insurance. Workers compensation insurance of Insureon covers the medical payments, recovery costs and partial lost wages for the injured employee.

Apart from the above insurer, some other significant business insurance providers are Allstate Business Insurance, AmVenture, State Farm, The Hartford Financial Services, Liberty Mutual Insurance, Chubb Limited, Zurich Insurance Group (Zurich) and Travelers.