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Commercial Insurance

What is Commercial Insurance?

The three main types of commercial insurance are liability insurance, property insurance and workers' compensation insurance. Liability insurance protects you from damages that your company inflicts on any third parties. It covers the cost of personal injury or property damage lawsuits and injuries customers incur at your place of business. Property insurance covers damages to property within your place of business, such as fire or flood damage. Workers' compensation insurance protects you in case employees are injured on the job. It also prevents employees from filing negligence lawsuits against you for any injuries they sustain during work. There are additional, specialized forms of coverage under each of these broad categories that can protect you from business-specific liability

Why Is Commercial Insurance Important for Your Business?

  • Commercial insurance is one of the most important investments you can make when starting a new company. Good commercial insurance will protect your company from servere financial loss and can be the difference between going under and staying afloat in the case of damages or a lawsuit. It's important to be knowledgeable of the different types of commercial insurance and work with a reputable agent to create the most appropriate policy for your business
  • Commercial insurance is crucial for small businesses. It protects you from commonly experienced losses including property damage, theft, liability and employee injury. With adequate insurance, companies can more easily recover from these types of losses. Without it, you risk going out of business


It's best to work with PHP Insurance Agent who has extensive experience in commercial coverage.

According to the Massachusetts Division of Insurance, "The relationship that you build with an agent is extremely valuable in this critical decision making process." The agent will discuss specific losses that are common within your industry and present a proposal for coverage options based on your business.

Make sure to ask questions about anything that you are unclear about including terms, conditions or specialized information. Remember that it is your responsibility to make an informed choice on the insurance that is best for your business, so open communication with the agent is important.


If a claim arises, contact your insurance agent immediately so that it can be investigated as soon as possible. Commercial claims are more complex than individual claims, so fast assessment is crucial, especially in high-cost liability claims. Avoid handling claims yourself rather than reporting them to your agent as this will violate your insurance contract

How to choose Business Insurance?

  • Your business is an asset to you, so naturally you will want to protect it by getting good insurance. One of the persons who is likely to be a constant in your business development is PHP Insurance Agent. We will be able to advise you on the type of insurance that you need
  • There are quite a bit of insurance policies that you can get when you seek to buy insurance. You may need all of them or some of them, depending on your circumstances. These include disaster insurance, liability insurance, building and contents insurance, car insurance and workman's compensation
  • Depending on your business, you may have to get other types of more specialized insurance. These can include Key persons, Buy-Sell Agreement, Product liability, Goods in transit, Equipment Insurance, Stocked items,... PHP will help you to find out your best policies