When it comes to running a small business, at Staples & Associates, we understand that it can feel like the wheels never stop spinning. There are always things to do, between driving sales, balancing the books, the last thing that you want to be worrying about is if you have the right insurance for your business.
Sometimes, getting business insurance can get lost in the hustle and bustle of running a business, but this can be a critical mistake. In fact, it’s just too risky to go into business without at least some basic insurance. So, where do you start?
Top Insurance Coverages for Small Businesses
For many small businesses, general liability insurance is recommended. Beyond that, it depends on what kind of business you’re in. You may also need workers’ compensation, as well as commercial auto insurance, and professional liability coverage.
General Liability: This coverage covers property damage or personal injuries that are connected to your business. Among other things, general liability insurance will pay for legal fees and medical bills related to injuries that occur in your business.
Workers’ Compensation: Businesses with any amount of employees will need workers’ compensation insurance, as it’s typically mandated by the government.
Commercial Auto: If you have a company vehicle, commercial auto insurance is a must-have. It can also be necessary if you’re using your personal vehicle to drive people or products.
Professional Liability: Professional liability insurance can cover negligence and legal fees, and can be useful for everyone, from personal trainers to beautician and IT consultants.
Cyber Liability: Cyber incidents grow by the year. Keep your business protected with cyber liability insurance to provide the coverage to keep your business’s data safe.
Often, different types of insurances can be bundled and offered at a lower cost than individual plans. This may apply to business owners and their businesses. To get started, speak with an insurance agent and get a customized quote on your small business.
Make sure that your small business is well protected, and speak with the insurance experts at Staples & Associates. There’s no such thing as being too careful, so contact an agent today!