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As a business owner, you’ll do anything to keep your company safe. While hiring the best employees and installing a high-quality security system will help boost your efforts, it’s not enough. You’ll still need comprehensive business insurance coverage to fully protect your organization. Though no two businesses are the same and the exact requirements for their coverage will differ, most can benefit from a few general coverage policies.

Which Business Insurance Do You Really Need?

The most important coverage you can get for your company is general liability insurance. This policy protects you and your employees from liability suits should a customer be injured at your facility or have their property damaged during the course of your work. Without liability coverage, you’d be responsible for the full cost of repairs, legal fees, and any other settlements assessed completely out-of-pocket.

If you operate your company out of a dedicated office space, you’ll also want to purchase property insurance to protect both the structure and everything housed inside. These policies are designed to help you get back on your feet in the event of a disaster, fire, or an incident of theft or vandalism. Most will help repair any damage to the structure while also providing funds to repair or replace anything damaged inside. This means your inventory, computers, equipment, and even furnishings will be covered and protected, reducing the risk of unexpected out-of-pocket costs.

Business InsuranceIn addition to these business insurance policies, you’ll want to consider commercial auto insurance for any vehicles used by yourself or your employees in order to conduct business. This includes all delivery vehicles, company cars, vans, and trucks. Commercial auto insurance will protect your business cars, your employees, and cover liability damage should you be involved in an at-fault accident.

Why All the Additional Coverage?

Businesses are complex organizations, and there is no single umbrella policy that provides adequate coverage for all kinds of companies. By purchasing business-specific insurance policies, you’re protecting your investment, your assets, and your employees all at once.

 

The experienced agents at Mutual Underwriters understand that every business is unique. They’ll work with you to find the right business insurance for your needs, whether you’re just starting out or have been in business for years. With five locations across Hawaii, you’re sure to find an office that’s close and convenient to your headquarters. Learn more online and call (808) 532-2888 to schedule a consultation.

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