Small Business Insurance

It is a good idea to protect your business with small business insurance. You have invested much of your time and money into your small business but what would happen if there was a fire and all your equipment burst into flames? What if one of your employees gets hurt on your property and decides to sue you? Having insurance can ensure your small business doesn’t fall apart as a result of situations like these. Below you will find an overview of different types of small business insurance.

Types of Small Business Insurance

  • Small business property insurance– In case anything should happen to your small business equipment, office furniture or property due to certain uncontrollable circumstances such as theft or fire.
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  • Workers compensation insurance– If you have employees this insurance is mandatory for you to have.
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  • Liability Insurance– Should a customer, employee or visitor be harmed or hurt on your property , this insurance will cover it. There are different types of Liability Insurance you can choose from as well.
    1. Product liability insurance– In case a product manufactured by your business causes injury or death.
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    3. Professional liability insurance– If you provide a service rather than a product this insurance can protect you from personal claims made against your services.
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    5. Employment practices liability insurance– If an employee decides to sue you for sexual harassment, or wrongful termination, this insurance will cover it.
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  • Business Vehicle Insurance– You probably know the importance of having car insurance for your car, so it is equally important to have car insurance for your business vehicle. In fact in many states all cars are required to have car insurance.
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  • Health Insurance– You can choose to get health insurance for you and your employees. Costs of medical bills and medication are extremely high, so having health insurance in your business can prevent employees as well as yourself from having to worry about how to pay for it.

There is no “one size fits all” when it comes to choosing business insurance. Every small business is different and therefore requires their own specific alterations. Speaking to a Small Business Insurance Agent can help you figure out which types of coverage will best fit the needs of your small business. Take their recommendations seriously; don’t underestimate the chances of an accident or unexpected event happening to you. Prepare for the worst, but hope for the best. Make sure to shop around. Get quotes from several different companies to discover the best price.

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