Commercial Insurance Coverage
Owning a small business is a huge accomplishment. Even though you may not have as many risks as large corporations, it is still important to make sure that you have the right amount of coverage with your business insurance policies. Make sure to consider these commercial insurance policies to best protect your company.
- General liability insurance – even if you have a home based business, you need liability insurance, which will provide damage and defense coverage if you, your employees, or your products cause property damage or bodily injury to another person.
- Business owner’s policy – a business owner’s policy is the most cost effective way to protect your business. It will provide coverage for business interruption, property insurance, liability insurance, crime insurance, and vehicle insurance.
- Worker’s compensation insurance – even if you just have one employee, you need a worker’s compensation insurance policy. Worker’s comp will cover the cost of any medical bills and lost wages that an employee incurs when they are injured while on the job. The policy will also prevent any employees from suing you if they are injured while at work.
- Data breach insurance – if you keep any sensitive information at your business, such as employee information or client credit card information, a data breach insurance policy will provide the financial coverage needed if a hacker gets ahold of that information.
- Life insurance – when you pass away, your life insurance policy will provide a financial cushion for your loved ones, which can be used to pay off any company debt that they will take on when you are gone. It can also be used to help replace the income that you brought home from the business.
When looking for all the right business insurance policies to properly protect your company, contact the insurance professionals at Aimpro Insurance in Phoenix, Arizona.