There are many different types of business insurance, but here are a few you definitely shouldn’t skip.
When you think about business insurance, how do you feel? If you answered overwhelmed or confused, you’re not alone. There are so many types of business insurance on the market it can feel daunting to sift through them all to figure out which your company needs. We’re here to help, so we wanted to highlight three basic business insurance coverages that your business absolutely needs.
- Workers’ Compensation. The vast majority of states require employers to carry workers’ compensation if they have even one person on staff. And even in those that don’t (Texas and New Jersey), the onus to care for injured employees still falls to the employer. Protect yourself from medical bills, rehabilitation costs, and the need to compensate for wages lost during recovery by carrying workers’ comp insurance.
- General Liability Insurance. You’re a smart business owner, so you know that you need to be prepared for the unexpected. A general liability insurance policy is there to help you do exactly that. With this kind of coverage, you’re insured against a number of risks like property damage, medical bills, and legal costs if you need to defend against claims of libel, slander, negligence, and more.
- Commercial Property Insurance. Whether you rent or own your business location, you need this coverage. Property doesn’t just mean your location. This policy can also cover your equipment and inventory if it’s stolen, damaged, or destroyed by a covered cause.
For help securing these business insurance policies and adding the additional coverage your company needs, contact Nahai Insurance Services. We’re commercial coverage experts who can custom-tailor an insurance program to cover your specific exposures and work with your particular budget. Take the work out of buying business insurance by calling us today!