Every business is different. That’s why your business needs a unique mix of coverage to protect against its unique exposures. Don’t settle for one-size-fits-all generic coverage! Ask us to customize a policy so you get everything you need, without paying for protection you’ll never use.
Below is a quick list of some of the most common business insurance coverages that may be included in your package of protection:
- General liability insurance: Most businesses need some form of liability insurance. If your company is accused of causing bodily harm or property damage, this coverage pays for your defense and any resulting damages, up to policy limits.
- Property insurance: Property insurance provides coverage if your building, equipment, inventory or tools is damaged by a covered cause of loss (such as fire). It also protects against theft and vandalism. You may also want to consider business interruption insurance to protect your earnings if the business is temporarily unable to operate following a loss.
- Business owner’s policy (BOP): A business owner policy (also known as a BOP) is an affordable bundle of coverage for small business owners which typically includes property insurance, vehicle coverage, liability insurance, and crime insurance.
- Commercial auto insurance: If you or your employees drive in the course of business, you need a commercial auto insurance policy. It can be tailored to cover business-owned vehicles as well as employees’ cars which are driven for business.
- Workers’ compensation insurance: Mandatory in most states, workers’ compensation insurance pays for medical expenses, lost time and permanent disability for workers who suffer injury or illness during the course of employment.
- Professional liability insurance: Also known as Errors and Omissions insurance, this policy is needed by businesses that offer professional services – such as engineers, architects, IT and marketing professionals, consultants, insurance agents, financial planners, hair salons and more.
- Directors and officers (D&O) insurance: D&O insurance protects the directors and officers of a company against their actions that affect the profitability or operations of the company.
- Cyber liability insurance: If the business stores sensitive data about employees or clients, they are responsible for protecting that information. If a breach occurs or a company’s systems are hacked, this policy will provide protection against the loss.
- Employment practices liability insurance (EPLI): This coverage protects business owners when they are sued by employees for discrimination, wrongful termination and many other employment-related issues.