If you’re a small business owner, you’ve got a lot of stuff on your mind. And you probably don’t want to deal with insurance, but you want to protect your business…so it’s a vicious cycle. Anyways, you’re also probably wondering what insurance coverages you need for your business. Here are a few that you can consider.
4 business insurance coverages to consider.
1. General liability.
General liability insurance helps protect your business from claims of bodily injury or property damage. (Basically, if someone says that your business is responsible for injuring them or destroying their stuff.) Lawsuits stink. And they’re also expensive.
Ex. Some klutz trips in your parking lot and breaks their arm. They sue you for pain and suffering.
2. Workers’ compensation.
If one of your employees gets hurt on the job, workers’ compensation insurance helps cover their medical bills and gives them a chunk of the money they lose because they’re not able to work. (People gotta eat, you know.)
Ex. One of your employees accidentally falls off a ladder when they try to get a box down off the shelf. They break their leg and have to take some time off work.
3. Property insurance.
Property insurance covers your premises against losses like fire.
Ex. There’s a fire that torches your building.
4. Business interruption insurance.
If your business has a fire or something and has to close for a while, you’re going to lose money because you can’t sell stuff or run your business the way it’s supposed to be run. Business interruption insurance can give you back some of that income that you lose if you’re closed due to a covered loss.
Ex. Your building burns down and you have to close while it’s being repaired.
Get insurance quotes for your small business.
Of course, these aren’t the only coverages you can consider – or should consider – for your business. Get started with small business insurance quotes by chatting up our agents in LiveChat.