You invest a lot into your business, so you’d naturally do anything to protect it. Business insurance is a must in this regard, as the right policy will guard your enterprise while also covering you on a professional level. Because there are several different policies, it’s important to understand what’s being offered. Here’s a closer look at the types of policies a company should have.

What Business Insurance Do You Need?

1. Property Insurance

Even if you rent your workspace, you can still benefit from property coverage. This insurance covers all the items you need to run your business, including equipment and machinery. It can also safeguard office furniture and other non-essential items. 

2. General Liability

General liability coverage protects you in the event of litigation. For instance, if a customer is injured at your business, this coverage provides funding for medical needs. Legal costs, such as lawyer and court fees, can also be covered, as can any property damage that results. 

3. Professional Liability

This coverage is similar to general liability, but it protects businesses that offer professional services. As an example, if an accountant provides advice that ultimately costs his or her client money, a lawsuit could occur. This insurance is also called errors and omissions. 

4. Product Liability

Even products can raise liability issues. If this happens, you’ll be held responsible, even if you conducted diligent testing on a product to ensure it was safe for consumers. Product liability cases are quite common and may result in exorbitant lawsuits. 

5. Workers’ Compensation

Most employers are obligated to offer workers’ compensation. If an employee is injured during the course of work, workers’ comp pays for medical costs and replaces missed income until the worker is medically cleared to resume their position. 

When shopping for business insurance in Foley, AL, Ebert Agency Inc. can help you select the right policies for your company’s needs. Since 1928, three generations have helped this insurance agency provide essential protections to clients. Along with commercial coverage, they also offer personal insurance products to protect your home and vehicle. They even provide umbrella policies, which fill in the gaps in your existing coverage. Schedule a consultation today by calling (251) 943-2281 or visit the website to learn more about their business insurance products.