workers compensation

Fundamental Insurance Options For Small Businesses

The process of finding insurance can be a challenge for new business owners. From liability to workers compensation, the number of options and terminology can be difficult to navigate alone. That’s why it’s best that you work with a reputable insurance agent to get the coverage that meets your business needs. In the meantime, here is what you should know about three of the fundamental coverages that make up most business insurance policies.

Liability Insurance

Liability insurance covers your business in case of a lawsuit from a third-party alleging that your business activities led to them experiencing a loss or injury. There are various forms of liability coverage, but in each case, your policy will cover the cost for attorneys’ fees, judgments and settlements.

Property Insurance

Property insurance covers you in the event your building, equipment and furniture become damaged or lost. Your policy will pay to repair or replace your covered items if the damage is caused by a fire, certain storms, vandalism or theft.

Workers Compensation Insurance

Workers compensation covers instances where an employee suffers an injury or illness on the job. Your policy will pay for hospital and rehabilitation expenses as well as lost wages while your employee is unable to work.

There are many other coverage options besides liability, property and workers compensation insurance. Work with a qualified agent to create a policy that meets your business needs.