Small businesses of all types need to be covered by a commercial insurance policy. A traditional business insurance policy will protect your company against any property damage caused by you or someone who works for you to a client’s property. If you pay anyone to work other than yourself then worker’s compensation insurance is a requirement. Employers’ liability insurance will protect you from employees who could potentially sue the company over pay discrepancies or work-related accidents.
This type of coverage can also help pay for claims if an employee is injured while operating company machinery or other vehicle and if they damage someone else’s property with that equipment or vehicle.
If you are the sole proprietor of a small business and do not carry the proper insurance then you could be held personally responsible for loss or damages. This could possibly result in losing your business and even personal property like your home.
General liability insurance will help protect you in the event a customer files a lawsuit due to an incident on company property or while you were performing a service on their property.
Coastal Premier Insurance Group in the Boca Raton, FL area can help small business owners assess the needs for their individual company. A knowledgeable insurance agent will discuss the types of insurance and the coverage each one provides. Beyond the basic liability coverage a small business should consider policies to protect against the following:
- Theft
- Loss of inventory
- Identity theft protection
- Property damage
- Insurance for company vehicles
Stay on top of your small business insurance by discussing the policy every year with a Coastal Premier Insurance Group agent in the Boca Raton, FL area. This will ensure that you are covered in the event of an accident or lawsuit. Your agent can work with you to fine-tune the details of the policy to suit your individual business needs.