Who Needs What? Insurance to Consider by Industry

What insurance do you need for a small business? We get this question often, but there’s not a one-size-fits-all answer. That’s because the coverage you need depends on the type of business you have and the state in which you operate. But generally speaking, all businesses should consider these three types of insurance.

General liability insurance.  This type of insurance helps protect your business from claims that it injured someone else’s property or body. If you operate a hardware store, for example, and an employee spills paint on a customer, this coverage can help pay for their damaged clothing and even medical expenses if an injury occurred. And many small business owners get policies that include product liability insurance, which helps protect their companies from claims of bodily injury or property damage that their products cause.

Business income coverage.  This type of coverage helps your business when it is interrupted. In other words, it can help replace lost income if you can’t operate because your property was damaged by a fire, storms, a robbery or other incident.

Property insurance.  Commercial property insurance helps protect your building (whether you own or rent) and your equipment. If someone breaks into your building and steals your business computers, for example, commercial property insurance can help cover the replacement costs.

We’d love to see if we can help you find the right mix of insurance for your business. Call or email us today to schedule some time with us to review your policies to ensure that they meet your needs.