If you are a small business owner just starting out, don’t forget to obtain or update an insurance quote. Business insurance can protect your company from lawsuits, theft, and structure damage, all of which are essential to help you continue to grow. First State Insurance Agency has been providing top-rated products to its David City, NE, clientele for years. Below, they’ve outlined the types of insurance small business owners need to be properly covered.
Small Business Owner Insurance Coverage at a Glance
Policy Every Small Business Needs
General liability insurance is a must for every small business. Also called errors & omissions coverage, this coverage protects your business if a claim is made against it for failure to perform or general mistakes resulting in client loss.
Whether you lease or own your business’s property, you need specific property insurance that will cover your structure, as well as all supplies, furniture, and electronics within the structure. If you have a home-based business, notify your insurer as you will need to add a rider to your homeowners policy to have appropriate coverage for your business.
Business Structure Determines Coverage
The general structure of your business, as well as the services or products it provides, will affect the coverage you need to maintain. Do you have a roster of employees? If so, you will be required to have workers compensation, which will cover medical injury, disability, and death benefits in case an accident happens while they’re working. If your business supplies products, include product liability in your policy to protect yourself in case a claim is filed against you due to damages that were done by your product.
If you’re a small business owner, and you’re concerned that you might not have the appropriate policy coverage, speak with a professional. The qualified team of agents at First State Insurance Agency specializes in providing individualized attention to find the best products for your family or business needs. They have three locations for your convenience, so visit their Beatrice, David City, or Hickman offices to speak with an agent. Call them today at (402) 979-7585 or visit their website for more information.