What is Business Insurance?

Owning a business requires a lot of time, energy, and funds. It takes a dedicated person to run a business efficiently and productively. If you are a new business owner, you may be overwhelmed with all that comes with starting and running one. This includes having the necessary insurance coverage. Keep reading to learn more about all that is entailed in business insurance.

Why You Need Business Insurance

Business insurance, such as worker’s compensation and liability insurance are required or highly suggested. Having this coverage provides peace of mind for those who work for you, as well as yourself as a business owner. Keep your employees, inventory, tools, and property protected with business insurance. 

Workers Compensation

In most states, it is required for businesses to have worker’s compensation in order to protect their employees and themselves. Even for businesses with a staff of one person, this type of insurance is necessary. For employees, it serves as a means of providing income while they are unable to work due to a work injury. For employers, having this insurance serves as an assurance that your employees are taken care of. Learn more about this type of insurance by clicking here. 

Property Insurance

Having insurance for your property is essential in case there is something that needs to be replaced. This type of insurance can help to aid in replacing or repairing tools, computers, receivable accounts, or even the location in the event that the building is destroyed. Learn more about this coverage here.

General Liability Insurance

This type of insurance is helpful as it protects your business from liability claims. Accidents happen, and this type of insurance protects your business in the event of property damage or bodily harm that occurred on the premises. It can even protect you from mistakes that appear in marketing campaigns. This is an important insurance to have as it protects you from potentially costly lawsuits. Learn about General Liability Insurance here.

Looking for more information on business insurance coverage? For more insurance coverage options, check out at Northeast-MetroWest Insurance Agency.