When you have a small business, it is important that you have the right insurance coverage for your needs. Every business is different, and that means that there are going to be different insurance needs for everyone. You have to take into account the type of business you are and the risk tolerance that you have. It is vital that you have the coverage that you need in the rare case you need to make a claim for something. InsureWise is here to talk about some of the different types of policies that a small business might need to keep their business protected.
General Liability Insurance
Every business, large and small, should have general liability insurance for their business. If you can only afford one type of insurance, this is the one that it should be. There is not a business model out there that won’t benefit from this type of insurance. The amount of coverage you need will depend on the type of business that you have. If you have employees that are doing manual labor, there is more room for accidents and you will need more coverage than someone that has a small business out of their home office. This type of insurance covers your business when there are accidents, injuries or negligence. Your plan could help cover:
– Attorney fees
– Medical expenses
– Damages that could be cause by customers or employees
– Any claims of slander or false advertising
Professional Liability Insurance
If you have a business that provides services such as lawyers, accountants or consultants, professional liability insurance will apply to you. It covers negligence claims for when your business underperforms or makes mistakes. It can also cover any malpractice which isn’t going to be covered with general liability insurance policies.
Commercial Property Insurance
When your business owns or leases any property, you will need to have commercial property insurance. You will want this coverage just in case you have any fire damage, flood damage or other catastrophic events that leave you with a damaged building or equipment. You can customize your coverage depending on how many assets you have on the property.
Commercial Auto Insurance
If you have a business that has any vehicles that are used by yourself or an employee, you will want to have coverage on them as well. These policies usually cover any employees that drive the vehicles so that if an accident does happen, not only the vehicle will be covered but the people involved in the accident will be covered as well. Otherwise, you could end up paying for any medical care with your money.
Commercial Business Insurance Policies & More in Las Vegas, Henderson, Reno, North Las Vegas, Summerlin, Paradise, Spring Valley, Sunrise Manor, Enterprise, Sparks, Carson City & State of Nevada
If you are a small business owner and are in need of the right insurance policies to ensure your business is covered in case you happen upon a worst case scenario, you can turn to InsureWise to help you find the right policy for you. Call us today!