Do you own your own business? If so, then you understand how much hard work goes into operating your own company, supervising your own workforce, and attracting and maintaining clients or customers. In order to protect your investment you need to carry insurance. There are a number of business insurance policies to consider.
Business Insurance Policies
- General Liability: Few policies are as important to a new or established company as general liability. In the event you are held liable for an injury or damage to property following a lawsuit, this coverage helps cover the costs. Otherwise, you could end up crippling your business trying to settle the case.
- Worker’s Compensation: In our state this is considered optional coverage. However, this doesn’t mean the state won’t expect you to cover medical costs and lost wages should one of your employees become damaged on the job. Even if you run a cubicle-filled office, you should cover your bases and offer worker’s compensation.
- Errors and Omissions: If you make an error that leads to an injured patient or hurts their finances or professional standing, then you face a lawsuit. An error and omission policy can help cover the cost of a settlement so the suit doesn’t hurt your company.
- Commercial Auto: If you have company cars then you need commercial auto coverage. Otherwise, should an accident occur that you or your employee is ruled at fault in you could be expected to cover the medical costs and repair bills. There are also options that protect your vehicle in the event the car/truck is stolen or damaged in an accident.
- Nonprofit Policies: If you own a not-for-profit company you still need insurance. A nonprofit policy can safeguard your business with liability coverage and protection should you experience theft or damage to commercial vehicles or property.