What Are the Different Types of Business Insurance?

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There are a few different kinds of business insurance available today designed to meet your specific needs. Find out about the different types of business insurance with help from a public insurance adjuster in this free video clip.

Part of the Video Series: Home & Business Insurance
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Video Transcript

Hi, and welcome. I'm Dan Odess. I'm a public insurance adjuster and I'm here to talk to you about what are the different kinds of business insurance. There are various different kinds of business insurance ranging from industry specific to your basic coverage on your building or your business personal property. Now the reason why I say there's different types of business insurance, and I say business personal property and coverage on the building, is that sometimes different carriers all within one binder of insurance will provide different coverages for different aspects of your total amount of your coverage or insurance that's afforded to you. So therefore, like there's boiler machinery which will cover you for your cooling towers or your hot water heaters and that's for direct impact and failure of those systems. Then there's glass coverage for condo association or a business owner that owns a strip mall. That has a lot of glass companies, companies such as like Philadelphia will cover you for damage directly or damage caused directly to that glass and only the glass. There is coverages for like industry specific like I mentioned before like if you're in manufacturing or if you're in a hospital or if you're in a shopping mall or an entertainment center like such as like Disney World or something like that, there's specific companies that will place insurance on that, even like marine for shipping companies or if you're into the fishing business. So it's very important that you place insurance with an insurance company that understands your business and if you're not, you might be paying a higher premium for that type of insurance. So again, review and make sure that your agent and broker is properly going out to the right market for your industry or for what you need and getting you the adequate insurance that you need. Thanks for tuning in. This is Dan for eHow.


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