Small Business Insurance Needs

Protecting your business investment with insurance is a critical part of small business ownership.  From customers hurting themselves in your store to employee wrongful termination suits, having an insurance policy can minimize the risks associated with unexpected events, liabilities, and losses.  An insurance policy can come in many forms, from general to specialized, depending on your company’s needs.

General liability insurance and commercial auto insurance are the two most common insurance policies small business owners should have.  For example, if a customer slips and falls in your store and you get sued, general liability insurance will have you covered.  Auto insurance is a must have for any business using a company car, delivery vehicles, or whole fleets.
Business property insurance is also a must to protect your company’s assets.  This type of business insurance can cover a variety of losses, including damage from fires, electrical surges, and even embezzlement by an employee.
Business disability insurance is also a good idea for small business owners.  An illness or accident resulting in disability can be devastating to your life and business.  Disability insurance will replace your income if that were to occur.
Workers’ compensation insurance is “on-the-job” insurance for injured workers and is mandated by law in most U.S. states.  It includes coverage for employee medical expenses, lost wages, disability, and death benefits.
There are several other types of small business insurance that may be appropriate for your business.  The type of business insurance policy you choose is dependent on what type of business you own, the size, location, and your company’s preferences.  The following types of insurance may also be good for your business: health insurance, life insurance, product liability insurance, environmental protection, business interruption insurance, intellectual property insurance, employment practices liability, and cyber-liability or data-breach insurance.

For more information on small business insurance or to talk about your current policy in place, contact BPJ at (417) 887-3550 or email