With the complexity of the market and the wide variety of products available, it's no wonder many small business owners are confused about what types of business insurance they need. A great deal depends on a variety of factors, such as the industry you're operating in, but there are a few policies almost every small business owner needs.

According to Alcorn Insurance Agency, a highly respected agency based in Chama, NM, here are the types of business insurance almost every company needs:

• Property Insurance: If you have a physical location, furnishings, or electronics, property insurance will compensate you for any losses you sustain in a covered event, such as vandalism, fire, or a severe storm. In some cases, it may even fund your business while you recover from a disaster and provide cleanup services to get you back on track as quickly as possible.
• Liability Insurance: Every business, regardless of the industry, is vulnerable to lawsuits that could spell the end of your operation. Business insurance with liability coverage will cover the expenses if someone else accuses you of causing them physical harm or damaging their property and will pay for any settlement the situation requires.
• Workers' Compensation Insurance: In almost every state, any business with more than a few employees must carry workers' compensation insurance, which pays benefits to employees who are injured on the job. The specific number varies from state to state, but New Mexico requires any business with more than three employees to carry workers' compensation insurance.

With over 35 years of combined experience and a wide selection of policies to choose from, you can rely on the team at Alcorn Insurance Agency to help identify the business insurance policies you need and find policies that fit your budget. Visit their website to learn more about this local insurance leader, or call (575) 756-2197 to make an appointment today.