The risks and unexpected challenges that surface around a business do not see the size of the venture or its type. They can arise anywhere and anytime, some with good reason while others without and not under your control. Small business owners should not neglect their insurance covers at any time.
Here are the insurance options for small business owners that they seriously need to consider.
- Property Insurance – Offers protection to your business property against theft, vandalism, smoke damage, etc.
- General Liability Insurance – Provides defense and damages protection for your employees, products or services for any damage to a third party.
- Commercial Auto Insurance – This insurance offers protection to a company’s vehicles that carry the products, the employees, or equipment.
- Personal Automobile Insurance – Get Automobile insurance to cover all vehicles involved in your business and get protection against physical damage and bodily injury.
- Life Insurance – The insurance offers you peace of mind that your family and loved one will get taken care of after you.
- Renter’s Insurance – This is for the home based small businesses and gives protection against any damage to the physical property and personal injury.
- Homeowner’s Insurance – This kind of cover offers protection against damage to the home and all those objects inside it or any accidents that may happen at home.
- Data Breach – This is to get protection for any sensitive public information about clients and employees and get cover against the loss.
- Directors and Officers Insurance – The aim here is to offer protection to the directors and officers as well as protect the company against their actions.
- Professional Liability Insurance – Also referred to as Errors and Omissions Insurance, the policy offers protection against improperly rendered professional services.
- Worker’s Compensation – The aim of this cover is to offer insurance to employees who get injured on the job and get them medical benefits and wage replacement.
- Business owner’s policy – This is a complete package that covers everything related to a small business like property, business interruption, vehicle coverage, crime and liability insurance, etc.
The above are important insurance covers that should not be neglected by business owners at any cost. Additionally, they can also go for Personal Umbrella Insurance that offers an extension to an already existing policy and goes much beyond the regular policy. Keep your business covered, from all possibilities and aspects and run your venture with a complete peace of mind.