What type of insurance is designed to protect businesses?

Commercial insurance is specifically designed to protect businesses from various risks they may face in their operations. This type of insurance encompasses a wide range of coverage options tailored to suit the needs of different kinds of businesses. It can cover property damage, liability risks, employee injuries, and other potential hazards that could threaten a company's financial stability.

For instance, commercial property insurance protects a business’s physical assets, such as buildings and equipment, while general liability insurance covers legal liabilities arising from accidents or injuries that occur on the business premises. Additionally, commercial insurance can extend to specialized coverages, including workers' compensation and professional liability, that address specific aspects of a business's operations.

In contrast, personal insurance is aimed at individuals to protect their personal assets, automotive insurance is tailored for vehicle protection, and life insurance provides financial coverage for the policyholder's beneficiaries upon their passing. Each of these other types serves different purposes and is not suited for the particular needs of businesses, making commercial insurance the right choice for business protection.