Understanding Three Fundamental Business Insurance Options

Are you looking for New Mexico business insurance? If you’re unsure of what coverages to include in your policy, here are three options to consider regardless of the size of your company or your industry.

General Liability Insurance

General liability insurance covers you in case a lawsuit is filed by a third-party who claims that they sustained bodily injury or property damage because of your business. It covers a variety of incidents such as a customer getting injured while in your office or their car being damaged due to a pothole in your parking lot.

Professional Liability Insurance

Professional liability insurance covers you in case a lawsuit is filed by third-party who claims that the service or product you delivered caused them to experience a loss. This can range from a patient developing an illness after seeing a medical professional to a client losing money following the guidance from a financial advisor.

Commercial Property Insurance

Property insurance covers you in case your business property is damaged or lost due to a fire, certain storms, vandalism or theft. Your policy will pay to repair or replace your covered items including your building, landscaping, equipment, furniture and electronic data.

Plenty of other coverage options exist that can be included in your New Mexico business insurance policy depending on your industry. Work with an experienced agent to ensure that your new policy meets those requirements.