Whether you’re a fledgling startup or thriving enterprise, one thing is for certain: you need business insurance. That being said, different businesses will require different types of coverage. Below, the Las Vegas, NV, business law experts at Gordon Law highlight several types of insurance to consider for your company.
5 Types of Insurance Your Business Should Consider
Property insurance covers losses stemming from a wide array of events, including theft, vandalism, fire, storm, and civil disobedience. This policy will allow you to replace signage, equipment, computers, and inventory should your business fall victim to destruction or damage.
Liability insurance protects your business from claims of injury or negligence brought by a third party. For example, if a customer were to sue your business following a slip and fall accident, your liability insurance would cover your associated legal expenses.
3. Commercial Auto
Vehicles used for business purposes are typically excluded from personal auto insurance. As such, any vehicle used in the operation of your business should be covered by a policy.
4. Workers’ Compensation
If an employee is injured on the job, your workers’ compensation insurance will cover associated medical expenses and lost wages. This will also protect you from employee lawsuits stemming from work-related injuries.
5. Product Liability
If you are in the business of manufacturing, distributing, or selling products, liability is a must. Should one of your products cause injury or bodily harm to a consumer, your policy will protect against financial loss.
If you have questions or concerns regarding business law and liability, Gordon Law is the firm to call. Backed by over 20 years of business law experience, attorney Gordon focuses on a variety of legal matters, including contract law, litigation, human resources, and more. Learn more about their areas of practice online, or call (702) 527-5557 to schedule a consultation for your business law matters.