Business insurance is one of the most important risk management tools you have available to protect your small business. It helps you guard against any number of unfortunate events or circumstances, keeping your business intact in the face of the unexpected. Below are some of the most important ways small business insurance benefits your organization.

Why Small Business Insurance Is Essential

To Guard Against Lawsuits

You can design a business insurance policy with a number of types of liability coverage. For instance, general liability protects you against things like slip-and-fall accidents or incidents in which you or an employee should accidentally injure someone or damage their property. Product liability pays for losses incurred if a product you manufacture or sell injures someone. Errors and omissions insurance (also known as malpractice insurance) pays for losses incurred if you commit an error in a professional capacity — for instance, as a lawyer, doctor, accountant, consultant, or another adviser.

To Protect Your Employees

Workers' compensation insurance pays for medical treatments for you and your employees in the event of a workplace injury or illness. This injury or illness does not need to occur on the business property; it qualifies as long as it occurs in the course of job-related duties. Workers' comp is also a legal requirement. In Georgia, most businesses with three or more employees are required to purchase workers' compensation coverage.

To Pay for Disaster Losses

Business insurance pays to replace both real and personal property in the event of damages due to fires, storms, falling objects, and other disasters. Note that most policies exclude flood damage and earthquake damage, which you must purchase separately if you live in an area commonly affected by these disasters. Premises coverage pays for damages to the building, while personal property coverage pays for losses to furniture, equipment, appliances, inventory, and other business assets. In addition to disaster losses, it also covers vandalism and theft.

For expert assistance designing a small business insurance policy that meets your particular needs, contact A.W. Adams Insurance in Clayton, GA. They are an independent agency that has served the communities of Tiger, Wiley, Tallulah Falls, Sky Valley, Lakemont, Lake Burton, and Lake Rabun since 1965. They also specialize in auto, home, life, motorcycle, and boat insurance. Call (706) 782-5100 to request a business insurance quote or visit their website to learn more about their services.