Owning and running a business is hard work. The last thing you want to do is be financially crippled due to an unforeseen accident or lawsuit. This means that you need to purchase business insurance. While every company has different business insurance needs, there are a few types of policies that every owner should consider purchasing.
- Property insurance – If you run your business out of any type of building or property, then you’ll want to make sure its insured. Not only will property insurance help cover any damages done the building itself, it will also cover company property inside, such as computers, office equipment, tools and furniture.
- General liability insurance – This policy will help cover you in the event that you, your employees or your services or products either causes injury to a third party or does property damage to a third party.
- Worker’s compensation – Worker’s compensation will provide insurance to any of your employees that are hurt while on the job. This policy will provide medical benefits as well as wage replacement to your injured employees. Your employees will also give up the right to sue your company for those injuries in exchange for these benefits.
- Professional liability insurance – This policy will help cover you in case your company has failed to properly render a professional service. This is not something that your general liability insurance will cover.
For additional questions about your business insurance needs, be sure to contact us online at CCW Insurance.
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