Small Business Insurance: Which One You Should Buy?

Written by Michael on . Posted in Small Business Insurance

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No matter how small your business is you cannot cut off the possibility of risk because every business big or small is prone to various risk factors and you need to protect your business from all the threats and dangers that you believe can harm your business progress in the future. Even when your business is just few days old you need to focus on various ways that can help you to protect it in the future and also in the present situation and you can do that with the help of better small business insurance. Your small business insurance will cover all the options and risk factors that can damage your business in any possible way. Here are some options that you can look out for when you are selecting small business insurance.

Small Business Property Insurance

If you are planning to open up your new store small business property insurance will help you to secure your property in the present and the future. This kind of small business insurance policy covers the building that you own and all the property that is inside it. However, this kind of insurance covers only certain items that are inside the property so make sure you discuss that well before you go ahead with it. The policy also does not cover the premises that is outside of the property and therefore there are certain limitations that you will need to discuss before you buy such small business insurance policy.

small businessCommercial General Liability

When you are planning of small business insurance this is the most common policy that you will find in the market. This kind of insurance will offer a comprehensive package to you especially to protect your small business from any kind of property damage claims and personal injuries to you or the employees. The reason most commercial business firms opt for this policy is because it protects their business and insures company for many claims. This means that many company owners can get a better overall insurance package with it. However, there are many scenarios that it does not cover like liquor liability, assault and battery, and professional liability so do keep track of that.

Employers Liability Coverage

If you have many employees working in your business you will need this kind of small business insurance that covers employees that work for your company and when they get hurt while on the job. This is critical for you because you don’t want to lose money paying for medical treatment of every employee which is incredibly expensive. However, this small business insurance does not cover discrimination and sexual harassment claims under it.

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