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Small Business Insurance

Many small businesses struggle to grow despite putting in tremendous effort. Eventually, they find themselves on the brink of bankruptcy. The reason for this is not farfetched. Being small businesses or startups, they are exposed to too many risks. If you are a small business owner, what you need to scale the hurdles of business is a winning insurance policy.

Small business insurance, also called commercial insurance, protects business owners, employees, property, and income. As insurance brokers, we provide you with the best insurance package for your business, so be rest assured, you’re in good hands. Here are some insurance policies we offer that every small business should have to thrive in their respective industries:

General Liability Insurance

This insurance coverage is one every small business needs to have. General liability insurance covers the risk of damages or lawsuits. This will come in handy if your actions or that of your workers negatively affect a third party, either by causing them physical harm or damaging property.

Property Insurance

The last thing you want for your business is to lose your property (which you probably got loans to acquire) to fire, theft, or anything that could destroy them. So, you want to insure your property against any possible risk they could be exposed to.

Business owner’s policy (BOP)

This insurance package is a robust one that contains all the necessary coverages and policies you need as a business owner. It often includes liability insurance, vehicle insurance, crime insurance, business interruption insurance, among other coverages. You can select the options you want your BOP to cover based on your business’s needs. This way, you get to save more money as it costs lesser than the individual coverages altogether.

Commercial Auto Insurance

This insurance provides protection for your business vehicles. If your workers use their personal cars on the company’s business, you can get non-owned auto liability insurance. Commercial auto insurance covers damages to company cars, delivery trucks, and all other vehicles you are using in running your business smoothly.

Worker’s Compensation

When an employee sustains an injury while on the job, workers’ compensation comes in just handy to take care of the situation. This insurance package covers medical fees and wage replacement. What’s in it for you? Before the worker can enjoy these benefits, he has to agree not to sue you or your business for the incident.

Professional Liability Insurance

This insurance plan is also regarded as the Errors and Omissions Insurance. You should know that this coverage is not covered by general liability insurance, so you have to get it separately. With this insurance package, you’re protected from the inability to give a professional service or claims that your services are not satisfactory enough. If your business is a professional firm, such as law, real estate, consultancy, accounting, and the likes, this insurance policy is just for you.

Data Breach

By storing your customers’ and workers’ information, you expose yourself to certain risks such as data breaches and thefts. This insurance covers the loss involved if you ever find yourself in this situation.

Renter’s Insurance

This insurance package is vital for those who are in the business of renting out their homes. It protects you from risks such as the destruction of property or injuries sustained by renters while in the house. If this policy is too restricted for you, you can opt for a broader option; the homeowner’s insurance, with which you can adequately protect your home.

Life Insurance

The loss of life is enough to close down many small businesses, but not for those who have us as their insurance broker. With life insurance, you have no need to worry about your business falling into the wrong hands. We simply transfer all your money and insured assets to the beneficiary of your choice.

Personal Umbrella Insurance

If you already have an existing insurance package for your business but want some extra specific coverages, the personal umbrella insurance is what you need. This insurance policy gives you the unique edge you need to protect your business totally from all possible risks.

Conclusion

These are some of the necessary insurance policies every small business should have. You can insure your business with any of them or customize your insurance coverage as a mix of several policies as suits your business.

In getting insurance for your business, one paramount thing is that you get the best broker that understands your business’s needs. That’s not all. Your broker should be well skilled and experienced to meet the said needs. This, and much more, is what we are. We provide you with the best packages and insurance policies specifically for your business. Insure your business with us the right way and watch it grow tremendously while we bear all the risks involved!.