Which Business Insurance Policies Should You Consider?

Businesses are often focused on a variety of priorities, chief among them growth. Most owners or managers try to outfox the competition but sometimes ignore life’s occurrences as a real possibility. For many, they believe one insurance policy will cover them all the way through, but the sad reality is one policy is not enough. Below are a few of the policies that can keep your business safe and functioning.

General Liability Insurance

This important insurance is for any claims made against your business in addition to covering any legal defense. From slip-and-fall accidents to employee allegations and much more, this is a must-buy policy for any business owner. This insurance covers slander or libel and even data breaches.

Commercial Property Insurance

For businesses that have large or costly footprints, commercial property insurance is a must. This insurance covers the physical structure and any contents inside in case of incidents such as fire, theft, hurricanes, and other natural or man-made disasters.

Workers’ Compensation Insurance

This coverage is often required by law. Businesses that carry workers’ compensation insurance are able to pay for lost wages and medical care for employees who are injured on the job. Depending on your state, you may also be required to pay for disability insurance or unemployment insurance.

Commercial Flood Insurance

For many businesses in low-lying or otherwise flood-prone areas, commercial flood insurance is a smart move. This insurance pays for damage to property caused by flooding.

Commercial Umbrella Insurance

Sometimes, large accidents or severe lawsuits can ruin a business, even if every insurance policy pays up to the maximum allowable limit. However, an umbrella policy works to fill those gaps and ensure that your business survives in addition to potentially covering other incidences that your other insurance policies don’t provide for.

Professional Liability Insurance

For many professionals, such as doctors, lawyers, accountants, and others, there is a need for specialized insurance covering their business activities. Professional liability insurance can help protect professionals who cause a client harm through an error or inadvertent act or omission.

Business Interruption Insurance

When unforeseen events such as natural disasters occur, your business may need to shutter for days or even weeks while the debris clears. Business interruption insurance helps replace lost income, make payroll and bills, and help ensure that your business can meet its financial obligations when the dust settles.

Commercial Auto Insurance

Some businesses rely on vehicles to accomplish their objectives. For those, a commercial auto policy can mean the difference between an employee’s traffic accident being calamitous or just part of the course of business. Some states require this type of insurance, but even if they do not, it could mean the difference between success and ruin.

Different types of businesses need different insurance policies and coverage. When you work with us, we can find the policies and coverage levels that best suit you and your business.

Contact us today so we can help insure your future. We are just a phone call or email away.