Without the right insurance coverage, you’d be responsible for paying for damages or medical bills out of pocket.
To figure out what kind of coverage you need, start by asking yourself, “What business insurance should I have?”
1. Business Owner’s Policy
You can combine business property and business liability insurance into a single policy with a Póliza para propietarios de empresas
(BOP). These combined coverages help cover the costs of:
- Daños a la propiedad
- Lesiones corporales
- Personal and advertising injury
It’s important to consider a BOP if you:
- Run your business from a physical location
- Could potentially face a lawsuit
- Store digital property that’s vulnerable to damage or theft
You can also add additional coverages to your BOP to tailor it to your business’ unique needs.
2. Workers’ Compensation Insurance
Workers’ compensation insurance
, or workers’ comp, gives benefits to your employee if they suffer a work-related injury or illness. While they recover, this coverage helps pay for their medical care and missed wages. It can also provide financial assistance to a deceased worker’s family.
3. General Liability Insurance
General liability insurance,
also known as business liability and commercial general liability insurance, helps protect your business from claims of:
- Daños a la propiedad
- Lesiones corporales
- Advertising injury
- Reputational harm
4. Business Income Insurance
Business income insurance
can help replace your lost income if you’re unable to open because of a covered event, like a fire or theft. So, if a windstorm knocks down your power lines and causes a fire in your building that forces you to shut down, this coverage can help recover your lost income until you can reopen.
5. Data Breach Insurance
If a data breach occurs and your business loses personal information, data breach insurance
can help pay the associated costs. This can include notifying impacted individuals and helping restore the public’s confidence in your company.
Depending on the level of coverage you choose, data breach insurance can also help cover the costs of:
- Identity protection solutions
- Legal fees
- Las relaciones públicas
6. Commercial Auto Insurance
Commercial auto insurance
, also known as business car insurance
, helps cover the costs if you or your employee is at fault of an auto accident while driving a company-owned vehicle for business. It can help pay for damaged property and medical expenses. Consider a commercial auto policy if your:
- Company owns, leases or rents vehicles
- Employees use their personal vehicles for business reasons
- Workers operate company vehicles
7. Commercial Flood Insurance
A commercial flood insurance policy is important to have if your business property insurance doesn’t cover flood damage.
8. Commercial Property Insurance
You can also add coverage to help protect other important parts of your company, such as valuable papers and records coverage.
9. Commercial Umbrella Insurance
Lawsuits can be more costly than you expect. If the costs of a claim exceeds the limits of your primary policy, commercial umbrella insurance
can extend your liability coverage. Without this extended coverage, you may have to pay costs that exceed the limits of your primary policy yourself.
10. Professional Liability Insurance
Professional liability insurance
is also known as errors and omissions insurance. It helps protect you and your company if you’re found at fault for services that caused a client or customer financial loss. This insurance is important to have if you work directly with customers.
How Much Does Business Insurance Cost for Startups?
- The type of coverage you choose
- Your level of coverage
- The size of your company
- Your unique coverage needs
The Best Business Insurance for Mature Businesses
No matter what type of business you run, having business insurance can help. From home-based businesses to large businesses and everything in between, we’re here to help small businesses get the coverage they need.
There are many different insurance companies that offer a variety of coverages. Finding the one that fits your business best is important. We’re backed by over 200 years of experience. Our small business insurance specialists help business owners find the right coverage for their company every day. And if the unexpected happens, our team is here to help guide you through the claims process. To find out more about how business insurance benefits
your business and what you should have, start by getting an online quote
or calling us at 855-829-1683
Última actualización: 13 de julio de 2022