According to the former Chief Justice of India, Deepak Mishra, more than 3.3 crore legal cases are pending in India in 2018. If you are a business owner who doesn’t want to join this ever-expanding list, you should consider getting insurance for your business. It will ensure that you (the business owner) and the entity you have formed stays away from court cases and resolves disputes in a comparatively easy manner.
In case you are sure that your business in India needs insurance, you should find out which insurance do you need most. Though there are numerous types of insurance you can opt for, the most highly recommended ones are mentioned right here.
1. General Liability Insurance
This business insurance ensures that you, your products or services or your employees get protection if someone claims a property or bodily injury. It offers defense and damages both. An example of its application could be the fact that 25 kids fell ill after having mid-day meals at a school in Delhi. If the provider had general liability insurance, he or she would be protected from lawsuits or financial claims.
2. Business Owner’s Policy
This policy is a package that covers various insurance types such as liability insurance, vehicle insurance, property insurance, crime insurance, etc. You can decide what insurance you need and create a bundle of services that is often cheaper.
3. Property Insurance
Find this useful? share it with your employees or peers in the industry