Businesses in every industry, no matter how small, are vulnerable to a wide range of risks, many of which can quickly wipe out all the investments you’ve made. Business insurance financially guards you from the unexpected, giving you the resources to bounce back if you’re named in a lawsuit or a natural disaster tears through your warehouse. While your individual coverage needs might vary, below are a few protections you should have.

3 Essential Types of Business Insurance Coverage

1. Business Property Protection

Property insurance protects your equipment, business location, and inventory from a wide range of perils, including fire, theft, and major weather events. Without it, you might have to cover these costs out of your own pocket, which many small businesses can’t afford. Because homeowner’s insurance usually won’t cover losses of commercial property, even home-based businesses should carry enough coverage to protect their products, electronics, and other valuables.

2. Liability Insurance

Lawsuits stemming from accidents and injuries can put you out of business, even if you do ultimately win the case. If someone is injured at your location, hurt by a defective product, or an employee damages someone else’s property, your liability insurance will cover the costs, along with any legal expenses you incur.

3. Auto Insurance

Whether you own a fleet of vehicles or use your own car for work purposes, commercial auto insurance is an essential investment. If you get into an accident while delivering products or meeting clients, your personal insurer will likely deny the claim. You should also get a policy that covers your workers if they use their own vehicles to conduct business on your behalf.

You’ve spent years and your personal wealth building your business, so you need coverage that provides protection against every possible risk. Since 1991, Michael E Glick Insurance has helped central Texas business owners shield themselves from the unexpected with customized policies tailored to their unique needs. Visit their website for more on their business insurance services, follow their Twitter for tips and advice, or call (830) 816-9488 to arrange a no-cost policy review today.