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Illinois Insurance Blog

Types of Commercial Insurance

As a business owner in Deerfield, IL, or the surrounding areas, you understand the importance of insurance coverage to protect your company’s assets. However, with so many different types of commercial insurance available, it can take a lot of valuable time to determine which policies suit your specific needs.

Our experts at STARS Insurance have put together this guide to give you an overview of the different types of commercial insurance. This way, you can make an informed decision about what type of policies you need.

Types of Commercial Insurance

Property Insurance

The purpose of property insurance is to guard your business against physical property damage, loss, or theft. This coverage typically includes your building, inventory, equipment, and other assets. If your business is damaged by a natural disaster like a fire or severe weather, property insurance can help you pay for repairs and replacement costs. Additionally, property insurance can cover losses due to theft or vandalism.

Liability Insurance

Liability insurance protects your business from legal claims filed against you by any third party. There are different kinds of liability policies out there designed to suit a variety of business types. For instance, general liability insurance covers claims related to bodily injury or property damage on your business’s premises. Professional liability insurance, on the other hand, covers claims made against you for professional mistakes or negligence. 

Worker’s Compensation Coverage

Finally, worker’s comp is designed to benefit employees who are injured on the job or become ill due to their work environment. In Illinois, worker’s compensation insurance is mandatory for most employers, regardless of the business size. This coverage can help pay for medical expenses, lost wages, as well as rehabilitation costs. 

Reach Out To Us

At STARS Insurance, we offer comprehensive coverage options to business owners in the Deerfield, IL area to help you protect your business and your employees. Contact us today to learn more about how we can help you protect your business.