When you finally take a leap of faith and start a small business, you might be consumed by ambitious hopes for the future. However, it’s just as important to protect your company in the here and now. Before reaching out to an insurance agency, use the following list to find out which types of business insurance are right for your enterprise.

What Types of Insurance Help Small Businesses?

1. Professional Liability Insurance

This is the base-level insurance policy that every small business owner needs. Your agent may also refer to it as errors and omissions insurance. Essentially, it will take over if you are ever sued for negligence by one of your customers or clients. Depending on the type of business you own—such as massage therapy or a hardware store—this policy may differ slightly.

2. Property or Home-Based Business Coverage

While professional liability insurance protects you from issues with your services, you’ll also need a policy to protect the environment you work out of. If you rent or own a business separate from your home—such as an office or storefront—you’ll need commercial property insurance to cover the damages from a storm, fire, or burglary.

If you run your business out of your home, you’ll need to add a home-based business rider to your homeowners insurance policy to protect your work-related supplies, inventory, and equipment.

3. Business Vehicle Insurance

Whether you’re running a plumbing business or use a van to deliver your custom cakes, you can’t rely on your personal auto insurance alone. If you get into an accident while delivering something in exchange for payment—be it a product or service—the personal policy won’t cover the damages.

Therefore, it’s crucial to get a business vehicle insurance policy for work-related cars or trucks, as well as for those used by your employees.

If you’re looking for more information on these types of insurance, let Lighthouse Agency of Fairfield, OH, be your guide. This trusted insurance agency offers coverage from top providers like UnitedHealthcare and Anthem to clients throughout Ohio, Indiana, and Kentucky. Whether you need to protect your business, health, or family, you can request a complimentary quote online from the comfort of your home. You can also call (513) 860-9100 to speak with an insurance agency representative today.