Whether you own a small business or a large one, the benefits of Business Insurance are numerous.
Although policies can vary based on the type of business that you own, the basics include the following:
- General Liability protects against bodily injury, property damage, libel and slander claims. It also pays for a legal defense, settlements and judgements if you are sued.
- Business Interruption helps replace lost income when the business is closed due to a covered loss.
- Commercial Property protects your building, equipment and business property.
- Professional Liability / Errors and Omissions protects your business against malpractice, negligence claims or financial loss from the services that you provide.
- Commercial Auto provides liability, physical damage and medical payments for autos and trucks owned and used by the business.
- Worker Comp is typically required if you have employees. It covers medical expenses and lost wages due to work related injuries.
- Cyber Liability helps the business recover from computer related crimes, cyber-attacks and data breaches. It also pays for the cost of recovering lost data.
One common misperception regarding business insurance is that sole proprietors who incorporate as a Limited Liability Company (LLC) are protecting their personal assets from any lawsuits. And while this is generally true, there are some cases in which an LLC doesn’t protect the business owner’s finances from an unfavorable judgment.
Get A Quote For Your Business Insurance Today
The best way to determine what type of business insurance you need is to ask a licensed agent in our office. We can assist you and provide you with quotes from several top insurance companies.