Business Insurance 101: The Essential Coverages You Need

Franke Insurance Services Business Insurance 101: The Essential Coverages You Need


Every business, no matter its size or industry, faces risks that could jeopardize its financial stability and operation. Franke Insurance Services understands this and is dedicated to helping businesses protect themselves with the right insurance coverage. In this blog, we’ll provide a comprehensive overview of the essential business insurance coverages you need to consider:

The Essential Coverages:

1. General Liability Insurance: This is the cornerstone of any business insurance plan. It protects your business from financial losses resulting from third-party bodily injuries, property damage, or personal and advertising injury.

2. Commercial Property Insurance: This covers your business property, including buildings, equipment, inventory, and furniture, against losses caused by fire, theft, vandalism, and other covered perils.

3. Business Interruption Insurance: If your business is forced to shut down due to a covered event, this insurance helps cover lost income and operating expenses during the interruption period.

4. Commercial Auto Insurance: If your business owns or operates vehicles, this insurance covers bodily injury and property damage caused by accidents, as well as other covered perils.

5. Workers’ Compensation Insurance: This mandatory coverage provides benefits to employees who suffer work-related injuries or illnesses, regardless of fault.

6. Cyber Liability Insurance: In our increasingly digital world, this coverage protects your business against data breaches, cyber extortion, and other cyberattacks.

7. Professional Liability Insurance: Also known as Errors and Omissions insurance, this protects professionals from claims of negligence, errors, or omissions in their services.

8. Directors and Officers (D&O) Liability Insurance: This protects directors and officers of a company from personal liability arising from their decisions and actions.

Additional Coverages to Consider:

– Product liability insurance
– Employment Practices Liability insurance
– Pollution liability insurance
– Umbrella liability insurance

Franke Insurance Services Can Help:

Choosing the right business insurance coverages can be complex. Franke Insurance Services’ experienced team can help you assess your risks, understand your needs, and design a customized insurance plan that meets your specific requirements and budget.

Contact us today for a free consultation!

Franke Insurance Services – Protecting Your Business, Securing Your Future.


This blog is intended to provide general information only and should not be considered as a substitute for professional insurance advice. Please consult a qualified insurance professional for specific coverage recommendations and policy details.