BUSINESS INSURANCE
Business Insurance by Industry
Industry Specific Risks
Each industry has unique risks that require specific business insurance policies to mitigate. As such, your insurance agent should be familiar with the ins and outs of this industry to best preserve your business.
The Craven Agency represents a variety of top-rated carriers with precisely what you need to protect your business from whatever gets thrown your way.
Commercial Contractors Insurance
Contractors, such as carpenters, painters, landscapers, and handymen can benefit from general liability insurance, at the very least. However, depending on the nature of their business, they may also want to consider commercial auto insurance or a business owner’s policy. All of these policies provide coverage for bodily injury or property damage that contractors may cause in the course of their business. However, each in different circumstances. Speak to a licensed agent to determine which policies are right for your business.
Builder’s Risk Insurance
A builder’s risk policy covers a property while it is under construction. This type of policy is important for both property owners and contractors/subcontractors alike. It covers the building while it’s being built from events such as fire, theft, windstorm and other types of damage. Builder’s risk insurance may also cover theft of building materials not kept at the construction site and debris removal.
Cargo Insurance
For the businessowners who are responsible for transporting their customer’s products, a cargo insurance policy is a must. This policy will pay for damaged or lost cargo up to a limit that you select, subject to a deductible. Businesses participating in importing/exporting, truckers, or any type of delivery operation business should purchase cargo insurance. There are some professions where this insurance won’t be available, so it’s best to speak with your insurance agent to confirm.
Inland Marine Insurance
While it may sound like a policy for boats or other sea vehicles, Inland Marine insurance has nothing to do with the ocean. It actually covers certain types of business property! Inland marine insurance covers property or materials when being transported or primarily kept off the business premises. Consider food truck vendors or a contractor who travels to different sites. These businesses require a specialized type of insurance to ensure their property is protected, and this policy will do that.
Rideshare Insurance
Did you know that your personal auto policy typically doesn’t cover you when you’re ride sharing? This means that if you drive for Uber or Lyft, you could be on the hook for any damages you cause while on the clock. Purchasing a rideshare insurance policy is the best way to ensure you have coverage for these instances.
For a review of what insurance your industry requires or a quick quote, contact a licensed agent at The Craven Agency.
Contact The Craven Agency today! Serving Shreveport, Bossier City, Minden, Ruston, Monroe and the surrounding communities in Louisiana and the Ark-La-Tex regions.
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