7.1 Risk Management Planning by Jenni Mejia https://padlet.com/jennimejia0619/eyfjd0fov31s In a 2-3 well developed paragraphs that include at least 3-4 cited references to the reading, imagine that you are a business owner. What type of insurance should you carry and what considerations should you make when making your decision. Explain your thinking. en-us 2017-05-01 13:57:59 UTC 2026-03-18 23:20:43 UTC hello@padlet.com Business Insurance jennimejia0619 https://padlet.com/jennimejia0619/eyfjd0fov31s/wish/171566337 “Insurance coverage is available for every conceivable risk your business might face. Cost and amount of coverage of policies vary among insurers" (Pg. 4).
General Liability Insurance: This insurance is used to cover “legal hassles due to accident, injuries and claims of negligence. These policies protect against payments as the result of bodily injury, property damage, medical expenses, libel, slander, the cost of defending lawsuits, and settlement bonds or judgments required during an appeal procedure” (Pg. 4-5).
Product Liability Insurance: This insurance protects against financial loss as a result of a defect that cause injury or bodily harm.
Professional Liability Insurance: “This type of liability coverage protects a business against malpractice, errors, and negligence in provision of services to customers. Depending on the profession, companies may be required by state government to carry such a policy" (Pg. 5).
Commercial Property Insurance: This insurance covers everything that relates to the loss and damage of company property due to a wide-variety of events such as fire, smoke, wind and hail storms, civil disobedience and vandalism.
Home-Based Insurance:“Contrary to popular belief, homeowners' insurance policies do not generally cover home-based business losses. Depending on risks to the business, owners may add riders to the homeowners' policy to cover normal business risks such as property damage” (Pg. 5). 
]]> 2017-05-12 18:57:28 UTC https://padlet.com/jennimejia0619/eyfjd0fov31s/wish/171566337 My Insurance jennimejia0619 https://padlet.com/jennimejia0619/eyfjd0fov31s/wish/171569176 There is two main insurances i would get, I would get General Liability, and Commercial Property. If I ever had a little business I would only have those 2 insurances because I would only need coverage for any damages like fire, storms, and vandalism. I would also only get General Liability for if anything happens to my employees at work.]]> 2017-05-12 19:16:41 UTC https://padlet.com/jennimejia0619/eyfjd0fov31s/wish/171569176