Every small business owner learns how to cope with a variety of issues, from not having the right employees to running low on working capital. It is an absolute truth that there will be bumps along the way. Buying the right type and amount of business insurance can help smooth out several of those bumps. Don't put your business at undue risk. Accidents and incidents happen, and if they are serious enough, they could put you out of business or cause a major financial loss. But, the right commercial insurance can help.
Business insurance can cover almost any type of risk you might face. Commercial insurance policies are generally broken down into three categories: property, liability and workers compensation.
Property 
Property insurance covers damage or loss to the physical assets of your business up to the limits of your policy. It covers both the outer and inner structure of a building, as well as the contents within the building. But it does not cover everything. The following list shows some of the things that are not covered by basic property insurance. Depending upon the type of business you run, you may want to add extra coverage in the form of policy endorsements.
- Boiler and machinery: covers the accidental breakdown of boilers, machinery and equipment
- Debris removal: covers cleanup and removal after a fire, storm or other act of destruction
- Glass insurance: covers all types of windows, including large plate glass windows
- Business interruption insurance: covers lost income, including money for salaries and rent, while your business remains closed due to property damage or loss
Liability
A general liability policy can cover you against claims of liability by a third party who suffers a personal injury or property loss while on your business’ premises. However, businesses face additional types of liabilities as well. Some of the other types of liability coverage you may wish to consider include errors and omissions insurance, cyber liability insurance and malpractice insurance.
Workers Compensation Insurance
Workers compensation covers employees who suffer work-related injuries. It pays for medical care and also provides some compensation for the injured worker for lost wages while he or she is recovering and unable to work. Workers compensation laws differ from state to state in regards to who must carry it. In general, you probably will be required to carry workers compensation insurance if you have employees (applies to both full- and part-time workers).
Get the right coverage today. Call us for more information on business insurance.
Have you experienced a time when you were grateful for your business insurance policy? Let us know about it in the comments section below.