4 Types Of Insurance Your Business Must Have

by - March 14, 2019



When you own a business, there is a whole range of insurance coverages that you are going to need. If you don’t have these in place, you are not going to have made sure that your business is safe. Protecting your business is important, and without insurance, this just isn’t going to happen. As such, we have written this article to tell you about four of the insurance types that you are going to need if you want your business to be safe.



General Liability


The first one that we are going to look at is general liability insurance. What this means is that your business will be covered for a whole host of different things. Many business owners get this coverage and think that this is enough to protect their business from all threats, but it isn’t. You need this insurance in conjunction with others to get the best layer of protection possible. If you do not currently have general liability insurance, you must get it as soon as possible because it is one of the most important covers a business can have. You can find out more about this cover at a site like https://www.nationwide.com/what-is-general-liability-insurance.jsp.

Workers Compensation

If something goes wrong in your business and your employee needs time off, you need to have workers compensation insurance. This way, the insurance company will pay your employee the money they would have been getting if they were able to work, and this doesn’t have to come out of your business’ pocket. If you have an employee who gets hurt and you don’t have this insurance, they can go to a site such as https://www.braininjurylawofseattle.com/personal-injury-attorney-seattle/ and your company could be looking at paying out a lot of money to them. As such, in order to protect your business and the people who work for you, workers compensation is important.

Property Insurance


If you own a business office, you need to have property insurance on it. If someone breaks in and damages things, or vandalizes the outside such as by smashing a window, you could be looking at a lot to fix the damage. This is why you need property insurance. You will also find that this covers theft and fire most of the time, but be sure to check your individual policy to make sure that this is the case for you. You will find this cover particularly important if your business address is located somewhere that is known for issues like this.

Business Interruption Insurance

Finally, if something happens which means that your business has to halt operations, you are going to be losing profits for the entire time you are down. But, if you have business interruption insurance than the cover company will pay you anything that you lose during these hours. As such, you are not going to be missing out on anything if an event occurs which leaves your business unable to operate.

We hope that you have found this article helpful, and will use this advice to protect your business at all costs. Good luck.







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