Searching for business insurance can often seem like an unnecessary hassle. From the multitude of options to the complicated terminology, many small business owners get turned off by the process. Rather than going through it yourself, however, it’s best to work with an experienced agent to create a policy that suits your needs. In the meantime, here are three of the most important coverages that you should include in your policy.
If you’re a professional service provider such as a consultant, it’s recommended and sometimes, required, that you carry professional liability insurance. In case of a lawsuit where a third party claims that malpractice on your part led them to experience a loss, your policy will pay for legal fees and expenses for which you’re found liable.
General liability covers you in case a third party sustains bodily injury or property damage because of your business activities. Similar to professional liability, your policy will cover any expenses related to the case for which you’re liable.
Whether you work out of an office or in your home, it’s recommended that you carry property insurance as it will pay to repair and replace any items that you have covered under your policy. This can include your building, furniture, equipment, computer and data. Events that are usually covered under property insurance include certain storms, fires, vandalism and theft.
Finding business insurance doesn’t have to be too difficult. Search for an experienced agent who understands your industry for help crafting your policy.