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International Business Insurance

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International Business Insurance Provided By Our Agency

In today's increasingly globalized economy, businesses of all sizes often work beyond the borders of the United States. This can leave a company vulnerable if its insurance coverage is less expansive than its business dealings. International insurance may be a smart choice for your business in these situations.

What is International Business insurance?

A type of insurance called international insurance is intended to cover the risks involved with conducting business outside of the United States. The main difference between it and typical company insurance is that it will cover damages overseas. In addition, a wide range of products, such as property insurance, general liability protection, auto insurance, professional liability protection, workers' compensation, abduction and ransom insurance, medical risk insurance, and marine insurance, may be included. Your work and the hazards your business and employees face while operating outside the United States will determine the specific types of policies your firm may require.

Types of coverage in International Business Insurance?

  • General liability insurance – Protects businesses against claims related to property damage, accidents, injuries, and negligence.
  • Property insurance
  • International product liability insurance – Covers injuries and damages caused by a defective product.
  • Workers’ compensation – Covers employees’ work-related injuries, including rehabilitation costs.
  • Commercial auto insurance
  • Professional liability (errors and omissions) insurance – Protects businesses from failure to deliver as intended or not at all.
  • Kidnapping and ransom insurance – A good idea in high-risk areas where kidnappings and ransom requests are expected.
  • Medical risk insurance
  • Commercial inland marine insurance – Protects goods transported via ocean cargo or plane.
  • Accidental death and dismemberment insurance
  • Defense base act – Covers overseas civilian workers employed under a government contract.

How much does International Business Insurance cost?

Like any other type of insurance, what a company pays for international business insurance also hinges on essential factors like:
  • The company’s industry
  • Exposures
  • Claims history
  • Requested coverages
  • Number of employees
  • Annual revenue

When it’s time to purchase international business insurance, we can help you select the different policies your business needs based on your dealings abroad. This way, we can help you find the coverage you need at affordable prices that adequately cover your overseas exposures.

Already have International Business Insurance? Switching is easy

It might be time to switch insurers whenever your existing insurer's service doesn't meet your needs. For example, it might be time to consider other options if you have poor claims experience or an unexplained rate increase.

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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We extend coverage to individuals and businesses in Dunlap, IL and surrounding areas.
1715 Woodside Drive Dunlap, IL 61525
reports@hechtstout.com
309-693-3388
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