Insurance is the transfer of the risk of a loss from one individual to another in the exchange for payment. There are many different types of insurance including home based business insurance, commercial auto insurance, commercial property insurance, and homeowners insurance.
Home based business insurance is specifically for at home businesses.
Englands first fire insurance company was established in 1681. Nicholas Barbon created the Insurance Office for Houses and initially insured 5,000 homes.
Commercial property insurance covers commercial properties. Commercial insurance is specifically for commercial settings.
Commercial auto insurance is for commercial business that use cars and trucks as a mode of transportation. If an employee is in an accident while using a company vehicle, they could cause a multimillion dollar loss. One in eight of every 500,000 trucking accidents that occur each year involve a commercial vehicle.
The MIB or, Motor Insurers Bureau, compensates individuals involved in motor vehicle accidents with uninsured drivers. The Motor Insurers Bureau estimates that in 2008 over 1.7 million people drove without auto insurance. Thankfully, in 2011 there was 215 billion dollars spent on commercial auto insurance.
Insurance coverage is not an easy thing to figure out. For business insurance tips, commercial insurance tips, and to find out how much is business insurance you can just look online.