Any business endeavor comes with a degree of risk. Fortunately, business insurance helps protect your company from a range of threats, from fire and theft to lawsuits and fraud. If you’ve already started researching business insurance options, you might feel overwhelmed at the sheer number of options available. To help get you started, here are three of the most beneficial types of insurance every up and coming company should have. 

1. Business Liability Insurance

Business liability insurance is essential for any business. It protects you and your employees from third-party lawsuits. In addition to providing financial protection for your company, it also pays for legal obligations related to your business’s defense, and it covers and medical costs incurred by anyone who may have been injured on your company’s property.

2. Property Insurance

This business insurance helps to protect the physical location of your business. In the event of a fire, flood, or theft, this insurance covers the cost of your losses. Your plan can be tailored to fit your company’s needs and cover personal property, technology, inventory, and anything you deem essential for running your business. This insurance is especially important for businesses that rely on their inventory for profit. 

3. Equipment Breakdown Coverage

Nearly every business relies on computers to keep their business running. From tracking inventory to running online shops and social media marketing campaigns, technology is an integral part of daily operations. Equipment breakdown insurance covers equipment breakdowns that threaten your bottom line. This insurance isn’t limited to your computers, but any electronic or mechanical system in your business. This handy business insurance option covers the cost to repair or replace the equipment and any income losses associated with the downtime. 

Choosing the right business insurance for your company is a major part of running a successful business. If you need help narrowing down the best coverage for your company, the insurance specialists at America’s Favorite Insurance & Tax in San Antonio, TX, can help. They’ll work with you to assess your company’s needs and help you select coverage that protects you, your employees, and your business. Visit their website to read about their commercial insurance plans or call them today to schedule an appointment at (972) 662-8221.