Every business owner knows the importance of having adequate insurance coverage to protect them from the unthinkable. It may be confusing to decide which plan is best suited to your company, however. That’s why it’s important to talk with your insurance agent to discuss your options so that you pick the package that will give you maximum protection.

You can break down the majority of your insurance needs into a couple main categories – commercial liability and property insurance. Workers’ compensation, which is required in most states, is an important consideration as well.

Business Property Insurance

In order to protect your building, its contents and the entire premises, a sound property insurance package is essential. Choose a plan that will replace lost items and repair the damaged property to its pre-catastrophe state. Consider business interruption insurance as well. This plan covers the costs of relocating and paying payroll and other expenses while you rebuild.

Liability Coverage

There are several liability packages necessary for business owners.

  • EPLI – Employment practices liability insurance protects your company when an employee files a claim for a number of reasons. Examples include harassment, discrimination, failure to promote or wrongful termination.
  • General Liability – This package protects you if a client or vendor is injured on your property.

Choose a comprehensive business insurance package that will protect you in your time of need.

What Type of Business Insurance Do You Need?