Introduction
Running a small business comes with unique risks—from property damage to liability claims. The right insurance portfolio protects your assets, your employees, and your peace of mind so you can focus on growth.
1. General Liability Insurance
- What it covers: Third-party bodily injury, property damage, and legal defense costs.
- Why you need it: One slip-and-fall could otherwise bankrupt your business.
2. Commercial Property Insurance
- What it covers: Physical assets—building, inventory, equipment—against fire, theft, and natural disasters.
- Considerations: Replacement cost vs. actual cash value.
3. Business Interruption Insurance
- What it covers: Lost income and operating expenses if your location is temporarily unusable.
- Tip: Pair with property coverage for seamless recovery.
4. Professional Liability (Errors & Omissions)
- What it covers: Claims of negligence, mistakes, or incomplete work in your professional services.
- Industries: Consultants, IT firms, architects, and more.
5. Workers’ Compensation Insurance
- What it covers: Medical expenses and wage replacement for employees injured on the job.
- Requirement: Mandatory in most states once you have employees.
6. Cyber Liability Insurance
- What it covers: Data breaches, ransomware attacks, and related legal costs.
- Why it’s vital: 60% of small businesses fold within six months of a cyber breach.
Conclusion & Next Steps
Don’t leave your business exposed. Review these six essential coverages and identify any gaps in your current policies.
Protect your venture: Get tailored insurance quotes today and safeguard your business’s future!
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