Dedicated Office Space Icon

Dedicated Office Space

Private and productive office space

Hourly Offices & Meetings Rooms Icon

Hourly Offices & Meetings Rooms

Private offices and meeting rooms on-demand

Custom Call Answering Icon

Custom Call Answering

Every call answered. An extension of your team

Executive Assistants Icon

Executive Assistants

Someone you can count on for your administrative needs

Virtual Business Address Icon

Virtual Business Address

Send and receive mail in prestigious office locations


Does Your Company Have the Right Type of Business Insurance?

Facebook Link Icon
Twitter Link Icon
Lined In Link Icon
By Garrett Spence   |    March 24, 2016   |    10:50 AM

Business Insurance for Small Businesses

Small businesses are inherently at risk, so putting them under the umbrella of certain protections is a key strategy to longevity and survival. From general liability insurance to commercial property insurance, you need to make sure that your small business has the right type of insurance for its needs. Your broker can advise you on the type of insurance that’s best for you, but in the meantime, here is a breakdown of types of business insurance.

General Liability Insurance

Small business owners are covered under general liability insurance to cover legal issues due to accident, injury or claims of negligence. These types of policies protect against payments stemming from bodily injury, property damage, medical expenses, libel, slander, the cost of defending lawsuits and settlements or judgements delivered during an appeal process.

Product Liability Insurance

Small businesses that manufacture, wholesale, distribute or retail any product may be held liable for its safety. Product liability insurance protects against financial damage to the small business as the direct result of a defective product that causes injury or bodily harm. The amount of insurance depends on the products that your small business sells or manufactures. A clothing store would have far less risk than a small business that produces a product that people consume, such as food or lotion.

Professional Liability Insurance

This category of insurance applies to small businesses that provide services instead of selling products. This insurance may also be referred to as errors and omissions insurance, and covers small businesses against malpractice, errors and negligence in the process of providing services to customers. Keep in mind that state government may require you to carry such a policy, depending on the nature of your business.

Commercial Property Insurance

Property insurance is intended to cover physical loss and damage of company property due to a wide variety of damaging events such as fire, smoke, storms, civil disobedience and even vandalism. The definition of property can be broad and includes lost income, interruption of business services, buildings, computers, company data and money.

Home-Based Business Insurance

Homeowners’ insurance policies do not generally cover home-based business losses, so it may be worth adding riders to a homeowner’s policy to cover normal business issues like property damage.

Worker’s Compensation Insurance

Once your small business has even one employee, workers’ compensation insurance should be added to your insurance policy. This type of insurance covers medical treatment, disability and death benefits in the event an employee is injured or dies as a result of his or her work.

Download The Intelligent Office APP

Download the Intelligent Office App

Available at the App Store and Google Play Store

Download The Intelligent Office APP for Iphone Download The Intelligent Office APP for Android

Download the Intelligent Office App

Available at the App Store and Google Play Store

Download The Intelligent Office APP for Iphone Download The Intelligent Office APP for Android
Download The Intelligent Office APP