Are all the different New Mexico business insurance options with specific industry terminology confusing to you? If you’re new to the business insurance market, then it’s likely that you’re having a hard time keeping up. If that’s where you are, here are four of the most popular coverages that you can expect to read about and what protections they offer.
General liability protects your business against any lawsuits filed by a third party who was physically harmed or had their property damaged by your business. Your policy will pay for any legal or medical fees for which you are found liable.
Professional liability protects your business against lawsuits from clients who feel an error or omission on your part led to them experiencing loss. This coverage is usually recommended for business consultants, medical practitioners, attorneys and other independent consultants.
Commercial property coverage ensures that you’ll be able to recover your property in case they’re lost or damaged in a storm or due to vandalism or theft. Your office, furniture, equipment and electronic data can all be covered under this coverage.
Workers compensation covers your business in case one of your employees gets hurt while on the job. Your policy will cover any legal or medical fees associated with such an injury.
Signing up for New Mexico business insurance isn’t as difficult as it seems. Use these definitions to help you navigate the search process and build out the best policy for you.