Do I Need Business Insurance?

You’ve invested a lot of time, energy and effort into your small business. If you’ve asked yourself, “Do I need business insurance?” The answer is yes. A small business insurance policy can help with protecting your assets and company. Without this coverage, small businesses may have to pay to repair or replace damaged or destroyed property on their own. This can put your small business’ finances at risk.

 

Let’s say a fire breaks out in the building you’re renting and causes severe property damage. A commercial property insurance policy could help cover your repair or replacement costs. But, without it, you’ll have to pay those costs out of pocket.

 

Every small business is different and faces unique risks. This means there isn’t a one-size-fits-all approach for finding the right small business insurance. As you research your options, you should have certain business details ahead of time to help you get the right insurance protection, such as:

 

A range of small business insurance products can help protect you and your business from different risks. Many small businesses buy these essential coverages:

 

Commercial property insurance, which helps if your business property gets damaged from a covered incident, like a fire. This coverage can help cover your business’ physical location and equipment, whether you own or lease it.

 

General liability insurance to help protect your business from property damage liability and bodily injury liability. For example, if a customer falls and gets hurt in your store, it can help pay their medical bills.

 

Commercial auto insurance coverage helps cover damages to your car if you or your employees get in an accident while driving for business. This policy includes similar coverage to a personal car policy, such as collision and comprehensive coverage and personal injury protection (PIP). Collision and comprehensive coverage can help cover your costs to repair or replace damaged parts. PIP helps pay medical costs if you or your passengers get injured.

 

Professional liability insurance, or errors and omissions insurance, helps protect your business from claims for mistakes in your professional services.

 

You can also buy a Póliza para propietarios de empresas (BOP), which combines commercial property, general liability and business income insurance into one policy. This means you can make one convenient payment for all three coverages.

 

We make it easy to add more coverage to increase your small business’ protection. For example, adding data breach coverage can help protect you against certain cyber risks and cover your expenses to respond to a data breach. Adding workers’ compensation insurance means your employees get benefits to help them recover from a work-related injury or illness.

 

Every state has its own regulations on the insurance coverages small business owners need to carry. For instance, most states require small businesses with employees to carry workers’ compensation. That’s because if your employees get hurt or sick from their job, their health insurance policy won’t cover it.

 

If you’re wondering, “How much insurance coverage do I need?” we can help. Not all insurance companies are the same. We’re backed by over 200 years of experience, and our small business insurance team has been helping small businesses like yours for over 30 years. In fact, over 1 million small business owners in the U.S. trust us to protect their companies.

 

We’ll work with you to understand your business’ needs. You can have peace of mind knowing we’ve got your back and we’re here to help propel you, and your business, forward.

 

Obtenga una cotización hoy or call 855-829-1683 and speak with one of our insurance specialists to find out how small business insurance can help protect your company.