Growing a business takes a ton of effort and sacrifice. As a result, no startup owner wants to risk losing that hard work due to a lack of insurance. Learn more about what's covered under business insurance, and what you can add on to it, to ensure your company is protected.

What’s Included In a Business Insurance Policy?

A business owner’s policy is comprised of two main sections—general liability and property insurance.

General liability is what protects your business from bodily injury, property damage, and advertising injury that's caused by you or your employees. For example, if a customer is injured in your store or by one of your products, your general liability policy would pay medical expenses up to a specific limit, while also potentially covering the cost of a lawsuit.

On the other hand, property insurance protects the buildings and property that your business owns. If there's a fire, storm, or other covered danger, your property insurance will pay for what's lost, minus your deductible.

What Coverages Can Be Added On?

There isn’t a one-size-fits-all business insurance policy, but you do have the option to add special coverages to yours. For example, one common coverage add-on is business interruption service, which covers lost wages and sometimes pays for you to use a new location if you have to leave your business due to a disaster. Additionally, you may want to invest in worker's compensation and employment practice liability if you have employees. Finally, some add-ons are specific to the industry you’re in, so ask a licensed insurance agent about the type of coverages you should add to your policy.

If you’re ready take out business insurance for your startup, contact the agents at Superior Insurance. They’ll work with you to secure the right types of insurance for your business. Located in Durham, NC, they work with multiple insurance companies to find the best policy at the best price. For more information on their business insurance policies, check out their website.