Many new companies may think insurance is not mandatory for them, especially when they just begin operating or have few employees/clients. However, unfortunate incidents can happen to any business, at any time. Theft/destruction of business equipment, third-party claims, or loss/damage caused by natural disasters can wreak havoc on your business, interrupting its operations, and resulting in financial losses. This is why it is crucial to buy business insurance coverage.
Whether you use one or two vehicles for commercial reasons or have a large fleet of business-owned vehicles, you need commercial auto insurance to stay protected against:
Commercial property insurance is essential to protect your building and its contents, such as tools, equipment, inventory, computers, signs, and electronics, against damage or loss caused by:
It also covers damage to your personal property used for business operations and reimburses income loss while your commercial building is being restored after a covered peril.
Workers’ compensation insurance helps protect your business against work-related accidents (slips, lacerations, falls, explosions, and fire incidents) and resulting financial liabilities, including:
Besides, it pays for your court fees, attorney fees, and other settlement costs if you are sued for workplace incidents.
A business owners policy offers three much-needed commercial coverages in one convenient package, including:
Professional liability insurance covers your business against lawsuits resulting from:
It pays for the resulting costs of a lawsuit, such as lawyer fees, court costs, and settlement costs. Any business that provides professional service or advice to clients/customers and offers contractual services should buy professional liability coverage.
With these coverages, you can ensure the continuity and stability of your business while saving on out-of-pocket expenses in the event of a loss/damage.
At Spotlight Insurance Agency, we have the right yet affordable coverage options to protect your new business always against every possible industry-specific risk. Contact us today to get started on your customized business insurance coverage.
