Small Business Insurance what you need to know

small business insuranceWhen it comes to Small Business Insurance, there is a lot of information you need to know.  Making sense of it all can be difficult without a knowledgeable agent to discuss it with. Running a small business involves a significant investment. Business insurance protects your investment by minimizing financial risks associated with unexpected events such as a death of a partner, an injured employee, a lawsuit, or a natural disaster. Your state government determines insurance requirements for businesses.

There is a variety of business insurance that will work best for you.

A Business Owners Policy (BOP)- combines property, liability and business interruption coverage for small to medium-sized businesses.

General Liability Insurance– Broad insurance coverage for your business and activities

Business Auto Insurance– Cover your business with insurance for commercial vehicles

Commercial Property Insurance– Protect your business with insurance for your commercial property

Home-based business insurance-Coverage generally includes business property coverage; business liability, including product, personal injury and advertising liability

Worker’s Compensation Insurance– Insurance coverage that helps you take care of your employees

Specialty Insurance– provides insurance for contractors, wholesalers, restaurants etc.

Here are 5 tips that can help you when purchasing business insurance

1. Assess Your Risks

2. Shop Around

3. Consider a Business Owner’s Policy

4. Find a Reputable, Licensed Agent

5. Assess Your Insurance Coverage on an Annual Basis

Regardless of your type of small business, the best thing is to contact your agent.  They will be will be able to offer you all the options that work best for you and your business.

Penny Hanley & Howley Insurance

Protecting YOU is our Job



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