Must-Have Coverages for Small Businesses

Must-Have Coverages for Small Businesses

Must-Have Coverages for Small Businesses

Learn which coverages you should have to protect your business.

As a small business owner, it is your responsibility to do everything that you can to protect your company. While it’s important to put the right security measures in place and offer your workers the right health and safety training, these steps aren’t always enough. This is why you need to safeguard your business with the proper insurance protections. Here are some of the coverages that all small businesses should consider.

Commercial General Liability

This type of coverage will offer the financial protection that your company needs if it is held liable for a third-party’s injuries, property damages, or other losses. Not only will this offer compensation for the affected party’s medical treatment and repairs, but it will also offer coverage for your company’s legal and settlement costs should they be sued for the liability issue.

Commercial Property

If your company operates out of a physical storefront, then you need the protections that that commercial property insurance can offer. This type of policy will offer coverage for the damage caused by extreme weather events, fire, theft, vandalism, and so on. Not only will this type of insurance offer coverage for your business’s building, but it will also extend to cover your business’s equipment, inventory, supplies, and other property housed within your building.

Workers Compensation

Worker compensation insurance is one of the few commercial coverages that businesses are actually required. In fact, almost every state requires businesses to carry some minimum level of workers comp coverage. Not only will workers compensation ensure that injured or sick employees get the care and assistance that they need, but it can also help employers pay for their legal costs in the event that an injured employee decides to sue.

These are some of the essential commercial coverages that small businesses cannot afford to overlook.  Want help securing these vital policies for your company?  Then turn to the expert team at Club Agency Insurance Brokerage in Garden City, New York.  Contact us to get the coverages that you need today.