5 Types Of Business Insurance That Are Useful For Your Small Business

Insurance Blog

When you have a small business, you want to do everything to ensure that you protect it. If anything were to happen to your business but you did not have business insurance, your small business could lose its financial footing. Even if you have spent years building the finances of your small business, some or all of it could be gone with one catastrophic event. Here are five different types of small business insurance and how they could be beneficial to your small business.

Worker's Compensation

Worker's compensation insurance protects your business from legal ramifications. This business insurance will provide pay and medical insurance to your workers who are injured while working. Since your worker will be receiving these benefits, he or she will agree not to sue your company.

General Liability

This is the most basic type of insurance to have in a small business. Even if you have a home-based business, this type of insurance is beneficial. It will protect your small business in the case that you, your products, employees, or services cause property damage or bodily injury to someone else.

Business Car Insurance

If your small business owns a car, make sure that you have insurance to cover it in the event of an accident. Additionally, you may not have a company cars, but employees that use their own cars for company business. You may want to get additional car insurance to cover this use. Your employees' car insurance may not be substantial enough to cover use of their cars while they are doing company business.

Property Insurance

If your small business owns the equipment, inventory, computers, or real estate used by your company, you should have property insurance to protect these items in the case of fire or theft. This type of insurance also covers your small business in the event that fire, for example, damages your business and you are unable to earn a living.

Data Breach Insurance

If your small business stores data that is sensitive about your customers or employees, it is responsible for making sure that this information is held securely. If you have any kind of data breach, such as a hacker, your small business will be held liable. Data breach insurance will cover you if you have an electronic or paper breach of data.

The preceding five types of small business insurance illustrate the many ways that your business can be covered under different situations. For more information, contact a local insurance company, like Butler-Vause Insurance.


5 January 2015

Auto Insurance:  Even High Risk Drivers Need It

About ten years ago, my auto insurance was cancelled. This took place after one too many accidents. I was now a high risk, and my provider was not willing to keep me on any longer. Since there was no way that I was going to get behind the wheel without coverage, I started checking out plans with high-risk insurers. Some were not all that great, but others offered benefits that were very close to my old plan. I soon found a provider who would accept my application, and I began to be a little more careful with my driving. If you are having trouble buying auto insurance, let me help. I'll tell you what to look for in a high-risk provider, and how to find the best one in your area. In no time at all, you'll be covered and ready to get back on the road again.