Business owners in Alabama, like business owners everywhere, need insurance to protect their enterprises. It can be challenging, however, to find business insurance with the right coverage to match your business needs. Here are four tips to guide you through the process of selecting the right policy. 

What Should I Know About Business Insurance in Alabama?

1. Liability Insurance Coverage Offers Numerous Protections

If you, a customer, or employee is injured at your place of business, your business could be responsible for medical and legal costs, should litigation arise. Personal injury liability coverage, which includes offenses like libel and slander in addition to bodily injury, safeguards you and your business from these risks. Businesses in Alabama can also be responsible for property damage. Property damage liability coverage pays to repair or replace property that has been damaged by you or one of your employees.

2. Minimum Liability Insurance Coverage Isn’t Required in Alabama 

There are no state-mandated minimums for liability insurance coverage for Alabama businesses. All businesses, however, face some liability risk and should seek the advice of a qualified insurance agent so that their protections against financial losses are sufficient for their needs and circumstances.  

3. Workers’ Compensation and Automobile Insurance Are Required in Alabama 

Businesses that meet certain criteria are required to have workers’ compensation insurance in place. Workers’ compensation insurance protects you from your employees’ medical expenses and their lost income stemming from on-the-job injuries. You’ll also need to insure any vehicles used for business in case of an accident. 

4. Your Risk Determines the Amount of Insurance You Need

Your insurance agent can help you determine the proper amount of insurance for your business needs. Insurance minimums may be sufficient for some types of businesses. Alabama businesses may also choose to purchase umbrella liability policies to fill in any gaps in their existing coverage. 

If you have questions about business insurance in lower Alabama, the Russell Insurance Agency can provide answers. With more than two decades of experience, these agents are equipped to help local business owners find the best coverage for their needs. They also offer individual insurance products, including life insurance, home insurance, and vehicle coverage for cars, ATVs, and motorcycles. Business owners can visit them on Facebook for more information, or call (251) 947-3607 to schedule a consultation.