Business insurance sounds like a solid thing, but in reality it is a package of different types of insurance that protect the enterprise against financial losses and liability in certain cases.

These types of coverage can each have their own amounts and chosen between exactly as the business owner desires in order to meet the enterprise's exact insurance needs. A typical business insurance policy usually delivers eight types of coverage, each having to deal with certain situations:

Property insurance. As you may guess from its name, this type of coverage insures the enterprise's property, immovables and their contents against damage or loss, which may result from different circumstances like fire, flood, terrorist attack and so on. That is if your facility is hit by a lightning and your power generator gets damaged, this type of coverage will pay for the costs of repairing or replacing it.

Casualty insurance. This coverage deals with the damage or loss to the business itself, and is often bundled with property insurance into one single category – Property and casualty insurance.

Liability insurance. This insurance coverage protects the enterprise against legal actions from individuals and other companies that may be claimed because of the business's negligence.

Commercial auto insurance. You may think that your personal auto insurance will cover your corporate vehicles too, but it's simply against the law. All corporate transportation that is used with commercial purposes has to be covered with commercial auto insurance. However there are for commercial auto insurance to cover individual vehicles if they are used in business, so make sure to consult with your insurance agent on that.

Workers' compensation insurance. Your employees have to be covered against any on-the-job injuries and harm to their health during the working hours. This type of insurance coverage is usually mandatory, strictly regulated and closely supervised by state authorities.

Business interruption insurance. This type of coverage protects your business from financial damage when the income is stopped due to business interruption. It may be a critical damage to your machinery, a strike or power shutdown in your area that will put your business on hold and make an impact upon your cash flows.

Health insurance. Employees usually have personal health insurance, however business owners get good discounts when offering group health insurance plans.

Life and disability insurance. This type of coverage protects the business from the financial damage in case a key employee such as CEO or a major investor dies or becomes disabled.