One benefit of corporate insurance is liability protection. Who do you suppose would be responsible if a guest or visitor suffers a slip and fall or other accident on your property? It could be that the individual did not pay close attention to his or her surroundings; nevertheless, as the company owner, you will be held fiscal responsibility for the accident. If you do not have the liability protection, the costs associated with the accident will come from the company itself, and in some cases could prove to be more than the company can withstand.

Another form of corporate insurance is workers compensation. If you have employees, having workers compensation insurance is the law in Delhi & Mumbai as well as many other states. If one of your employees should fall or get injured while on the job, the company is responsible for the medical expenses and lost wages. A well-designed corporate insurance package will provide workers compensation protection and cover the costs of the injury, doctor’s visits, and pay for pain and suffering.

A corporate insurance package should include property coverage. If your business owns property such as office space or warehouses, it should be insured against damage or destruction caused by natural disasters (hurricanes, tornadoes, electrical storms, wind storms, and so on), fire, and other exposures that could cause damage. Finally, Commercial property insurance is not only a prudent choice for owners; your lender will require it as well if there is money borrowed against your property.

Finally, depending on the business, you may also require commercial auto insurance, cargo coverage, equipment floaters, E&O, D&O or one or more of many other types of commercial insurance.