Specific business insurance requirements can only be covered when associations referred to as insurable interest are in existence. Insurable interest is a legal model that defends against profiteering in situations where there was no real involvement. This kind of association must be in existence at the time when the property or personal insurance is bought. Let’s look at the five most common business insurance types.
- Property Insurance
This type of insurance covers any property that will require to be replaced as a result of loss or damage. These kinds of properties could include manufacturing equipment, inventory, and the business facility. Continue reading