Owning a business can be a very scary proposition. After all, you are putting all of your money into opening this business and/or have taken out loans to get it started. If something bad happens, you could lose it all. Business insurance, like that you can get from Sutherin-Melling Insurance, is essential to help protect not only your business, but also your personal financial situation.
You are liable for everything that goes on regarding your business if you are the owner. Whether fire, theft, liability issues or one of a number of other scenarios, if it happens, you are left holding the bag financially, unless you have a business insurance policy.
Business insurance normally includes a few different things. This basic types of policies will include:
- Building and Property Insurance : This coverage will help cover replacements and repairs for your building or other property due to windstorms, hail damage, fire, vandalism, theft, and more.
- Liability Insurance : This insurance protects your financial future when someone makes a claim of injury or property damage against your company, your employees, or your services or products.
- Workers’ Compensation Insurance : If an employee is injured at work, this type of policy will cover their medical costs and protect you against a lawsuit.
- Business Auto Insurance/Fleet Coverage : This policy will protect your business vehicles, as well as the liability of your employees if they are found at fault for an accident.
- Business Crime Coverage : Protects against theft, forgery, fraud, or robbery to minimize the financial losses.
- Every business is different, and this means that you may have different needs than another company. That is why it may be important for you to purchase some additional coverage to ensure all of your needs are met.
- Umbrella Coverage : Protects against financial losses if liability claims or judgement amounts exceed your regular business coverage’s limits.
- Life Insurance for Business : This kind of insurance will help you to survive the loss of a higher level employee or partner and retain or reward your top people to keep your business working as efficiently as possible.
- Employment Practices Liability : If sexual harassment, discrimination, or wrongful termination claims are made, this coverage can protect you against financial losses.
- Other Coverage : Whether you offer a service, sell a good or deliver goods, you want to be sure that your insurance coverage is customized to events that can happen to you.
- You take the responsibility of owning a business seriously, and that is why you want to have business insurance to protect your business, your employees, and your personal finances. Contact Sutherin-Melling Insurance today for more information.