As a small business owner, you wear many hats, including owner, manager, human resource manager, sales manager and even window washer. Because there is so much to do, you may not spend time thinking about your business insurance, but you should. Recent studies by the Insurance Information Institute found that over 50% of small businesses never reopen after a severe loss. We are ready to help you by providing the best possible combination of coverage, price, and service. We will shop the market and provide you with the coverage you need. Let us become your insurance department.
What Kind of Coverage Should Your Small Business Have?
· Commercial General Liability Insurance covers claims from accidents, injuries, or negligence when the business is at fault. Small businesses can face a wide array of damage charges like personal injury, property damage, libel, and slander.
· Commercial Auto Insurance covers your business owned vehicles. Operating costs of vehicles have increased over the past few years including general maintenance, repairs, and fuel.
· Property Insurance covers loss of equipment, personal property, and buildings.
· Product Liability Insurance covers legal fees for litigation involving a faulty product. It also covers any personal or property damage charges caused by a defective product.
· Cyber Liability Insurance covers the risk posed by conducting business over the Internet, over other networks, or using electronic storage technology. It covers third party losses from hackers, theft, and loss of information including sensitive client or individual personal information.
· Directors and Officers Liability covers costs, damages, and defense protection for directors and officers of a company for lawsuits and judgments arising out of poor management decisions, employee dismissals, shareholder grievances, and other such acts committed in good faith.
· Employment Liability Insurance provides protection for an employer against claims made by employees, former employees, or potential employees. It can cover discrimination (age, sex, race, disability, etc.), wrongful termination of employment, sexual harassment, and other employment related allegations.
· Professional Liability Insurance is designed to cover third party claims and damages arising out of providing professional advice. Many firms create legal obligations arising out of a professional's errors, negligent acts, or omissions during the course of providing services to clients.
· Workers' compensation insurance is usually required by law for small businesses with employees. This insurance provides benefits for employees who are injured or die from job-related causes.