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What are the different types of business insurance?

By Nationwide Insurance

What are the different types of Michigan business insurance?
(Photo by Getty Images)

Researching different types of business insurance isn’t always easy.

Business insurance requirements vary from state to state, and names for individual coverages aren’t always consistent among insurance companies. For instance, one insurer might refer to coverage for the accidental breakdown of boilers, machinery and equipment as boiler and machinery insurance, while another insurer calls it equipment breakdown coverage or mechanical breakdown coverage.

To make things more confusing, names like “boiler and machinery insurance” often include coverage for more than their names suggest – such as computers and office equipment. To help clarify the kinds of commercial insurance available, below is a list of some of the common types of business insurance coverages.

Types of Business Insurance

Business Liability Insurance

can help protect you, your employees and customers in the case of an accident.

Commercial Property Insurance

can help protect your company’s physical assets, such as your building, furniture, equipment and inventory. You can get commercial property coverage even if you work from home.

Business Owners Policy (BOP)

is a combined package of different coverages, such as property, liability, crime coverage and more. A BOP can help you get a customized policy tailored to your specific needs.

Commercial Auto Insurance

can protect your business and employees from a variety of damages and accidents related to the operation of vehicles.

Crime Insurance

can protect your business from crime-related losses such as theft and forgery.

Business Income Insurance

can help pay bills and cover costs if your business has to close temporarily.

Commercial Umbrella Insurance

can provide your business with extra protection beyond your standard liability policy.

Cyber Liability Insurance

can help protect your business from damages related to electronic data, computer systems, data breaches and even computer attacks.

Equipment Breakdown Insurance

can protect your business from damages and costs related to computers, electrical and mechanical equipment breakdowns.

Business Interruption Insurance

can pay for lost income and help keep your business afloat if external forces cause you to close for a short time.

can protect your employees in the instance of a work related accident.

Accounts Receivable Insurance

can cover your business against losses caused by the inability to collect customer payments.

Other Industries we specialize in at The Huttenlocher Group:

Manufacturing Insurance

Automotive Manufacturing Insurance

Tool & Die Shop Insurance

Staffing Agency Insurance

Food and Agriculture Insurance

Freshwater Technology and Services Insurance

Non-Profit Insurance

Cannabis Facility Insurance

Investment Properties – Commercial landlord Insurance

Habitational/Hospitality Insurance

Cardiovascular Surgeon Insurance


Original article shared here:

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The Huttenlocher Group

1007 W Huron St, Waterford , MI  48328

(248) 681-2100

1007 W Huron St, Waterford Twp, MI 48328

(248) 681-2100

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