Choosing the right insurance is crucial to protecting your small business. Though your overhead might be smaller, there’s less room for loss. That’s why it’s important to understand the different types of coverages available. The following are two policies that all business owners should consider implementing. 

General Liability Coverage

As a business owner, you face a multitude of risks every day. You can protect yourself from these risks by obtaining general liability coverage for businesses. As the primary form of coverage businesses rely on, it offers a variety of protections based on the risks that many owners face. 

For example, if a third party sustains injuries while on your property, bodily injury coverage provides funds for medical expenses. Damage to another person’s property is also covered under these policies, as is injury or illness caused by a product or service you offer. You’re also protected against claims of libel and slander or if a person alleges that false advertising on your part somehow led to an injury or property damage. 

Umbrella Liability Insurance

Even with general liability coverage in place, it might still fall short of meeting your needs. In this case, an umbrella policy can expand existing limits to offer greater protection. Keep in mind that umbrella insurance is not a standalone policy. Instead, it supplements your existing liability coverage.

It does this in one of two ways. It expands the current liability limit to prevent gaps in coverage. If you’re faced with litigation, costs may be exorbitant. Additionally, you’ll be personally financially responsible for costs that exceed your policy. Umbrella policies can also expand the coverage area into professional liability, such as medical malpractice or errors and omissions. They can also include commercial auto coverage.

Sun Valley Insurance supports business owners in Indian Trail, NC, by offering a wide range of products to protect your investments. As an independent company, they leverage their strong working relationships with multiple insurers to provide you with the very best rates and coverage. Business policies include general and umbrella liability coverage as well as workers’ compensation. They also offer personal coverage, including auto, home, and life insurance. Speak with an agent today by calling (704) 282-1155. You can also visit the website for more information on commercial coverage.