How to protect your small business

March 07 2018


Naturally, owning a small business means taking on some financial risk. But if you're not properly insured, one accident or lawsuit could potentially close you down.

Avoid coverage gaps and setbacks by reviewing your policy options and making sure you're adequately covered with one or more of the following types of insurance.

General Liability Insurance
This type of coverage will help you avoid losses due to third-party actions like bodily injury lawsuits and libel claims. It's generally a relatively inexpensive type of insurance and many would consider it non-negotiable.

Commercial Property Policy
Most businesses are nothing without their physical assets. This policy helps ensure the things you own -- from your electronic equipment to the building you work in -- stay protected in the event of an unexpected event like a fire or theft.

Errors and Omissions Liability
Companies like architecture firms or consultancies that provide advice or services for a fee should probably consider an E&O policy. These policies cover claims of negligence in case you need to defend your work for any reason.

Commercial Auto Insurance 
Own a fleet of company cars? Insure your commercial vehicles with a policy that covers physical damage. The auto liability coverage may also protect against no-fault incidents and uninsured or underinsured motorists.

Cyber Insurance
Recent increases in cyberattacks on small businesses have led to more cybersecurity insurance options. Don't wait until your website gets hacked to investigate ways to protect your digital assets.

Surprises can happen no matter how careful you are, but you can avoid damaging legal and financial repercussions by purchasing the proper coverage. Feel free to reach out with any questions you have about your insurance options.

Please contact our agency by phone or email if you have any questions regarding your insurance. If you prefer a face-to-face meeting, we do too so please schedule an appointment with us or just pop in to our office. If it is difficult for you to stop in, we would happily meet with you wherever to discuss your insurance needs.