If you have a small business, it is important to have the best commercial insurance coverage available in case of an emergency. Legal damages can be expensive and potentially catastrophic. However, your local insurance agent at Cole Harrison Insurance can help by providing you with the best insurance coverage for your business. Below are some types of commercial insurance to look for in a small business insurance policy.
General Liability Insurance
Liability insurance is a great place to start when considering your small business insurance coverage. Commercial general liability insurance (CGL) is essential to protect your small business from liability risks as it is designed to cover a number of contingencies including if you are found legally liable for third-party bodily injuries or property damages, including customers and suppliers. Typically, this type of insurance will cover costs such as medical expenses, fines, court costs, legal defense fees, legal damages, and repair/replacement costs.
Property Insurance
Emergencies happen, and in the event of damage to your business’s physical location, property insurance will have you covered. Fire, theft, flooding, or other natural disasters may cause expensive damages that can be crippling to your business. Costs that may be covered under these policies include equipment, furniture, inventory, damages to the property of others, and more. Contact an independent insurance agent today to find out more about which policy is right for you.
Workers’ Compensation
Workers’ compensation is one of the largest potential expenses you can face as a small business. Although accidents happen, you do not want to find yourself unprepared in the event of an emergency such as an employee’s work-related injury or illness. The best way to protect your business and your employees against potentially devastating legal damages is to add workers compensation to your small business insurance coverage today.
Umbrella Policies
The unthinkable happens and you are left with a potentially litigious situation that resulted from a circumstance beyond your control—and beyond the limits of your other insurance policies. This is where umbrella coverage comes in. Umbrella coverage covers catastrophic events that may include events resulting in multiple injuries/deaths at your place of business, including those resulting from the actions of your employees. Additionally, this type of coverage may protect you from other claims such as a failure to provide contracted services adequately or as promised.
The best way to protect your small business against any eventuality is to invest in commercial insurance. Although you may feel overwhelmed by all the available options, your local independent insurance agent at Cole Harrison Insurance will be able to provide you with all the information and advice you need to select the best small business insurance for you. Contact your local insurance agent at Cole Harrison Insurance today to get the coverage your business needs and deserves.
