Commercial owners who are just starting out have a lot to think about when reviewing which business insurance to invest in. There are many different types to consider, and it's important to make sure you have the right amount of coverage for your business so it doesn't cost you in the long run.
If you’re looking to gain coverage, trust James C Whitley Insurance Agency of High Point, NC. They will give you all the help you need to make the right decisions for your new business.
Read on as they suggest a few key steps to keep your business completely covered with the right insurance.
7 Things to Consider When Getting Business Insurance Quotes
1. Seek Out General Liability
If you are new to business insurance, this might be a good place to start. A good general liability insurance policy offers a sort of umbrella for all your needs, including employee liability, vehicle coverage, and company liability.
2. Don't Forget Cyber Liability
Whether it's a data breach conducted by an employee, an attack on your website that causes you to lose income, or a loss of intellectual property, cyber crimes can hit your business hard. Investing in a good cyber crime business insurance policy will help you recover faster.
3. Cover Your Employees
Workers’ compensation is important, and it is usually required by most states. Even if it's not required, it's still wise to offer it, especially if the workplace or the type of labor has physical risks.
4. Think About Disability Coverage
Beyond workers’ compensation, it's also good to have disability insurance for your employees. You can offer short-term, long-term, or both types of disability insurance. Some states even require it.
5. Get Insurance for Your Outside Contractors
If an outside contractor sexually harasses one of your employees, you could be held liable. By covering all independent contractors who do work for your business, you are protecting yourself from future liability.
6. Cover Your Home Business
A typical homeowners insurance policy won’t cover business equipment, even if you work from home. Be sure to have extra coverage for your home office workplace and inventory to protect you from losses.
7. Always Compare Quotes
Check the policies from several different companies to get the best price. Remember to make sure the coverage amounts are the same so you can make an accurate, side-by-side comparison.
When you’re ready for a business insurance quote, call James C Whitley Insurance Agency in High Point at (336) 841-5300. They have two convenient offices: one on Main St. and one on Lexington Avenue. You can also visit their website for more information.