Small Business Insurance Must-Haves
When starting a new business, it’s only natural for people to focus on the positives. They think about how good their idea is, how much money they’ll make, and how their business is going to grow into success. They may not think about what they’re going to do if things don’t go according to plan.
Business insurance is not just a safety net for when things go wrong. It can also be a legal requirement for businesses to carry some types of insurance. While it’s best to talk to your insurer about the specific types of coverage you’ll need, below are some of the insurance policies you may have to take out.
Commercial Property Insurance
Whether you own or lease a space, property insurance is a must. This coverage protects equipment, signage, inventory, and furniture in the event of a fire, storm, or theft.
General Liability Insurance
This coverage protects your business and assets should a guest or customer injures themselves on the property. Financial and legal assistance can help in the event your business is involved in a personal injury lawsuit.
Cyber Liability Insurance
More and more businesses are operating online and storing their data digitally. Unfortunately, it’s also the age of hackers and crackers. This coverage can protect your business from the expenses of recovering from a cyber attack like malware and hacking.
Workers’ compensation is required by law, even if you have only one employee. If an employee sustains injuries at the workplace, workers’ compensation will kick in to cover medical expenses and lost wages.
If your business uses vehicles, then these journeys must be protected with reliable commercial auto insurance. Just as you wouldn’t drive your own car without personal auto insurance, your business must also take steps to protect from accidents, damage, liability, and theft.
At CAV Insurance, we work with you to understand your risks, exposures, and insurance protection. Visit our team today to get started on securing your policy in Wellesley Hills, MA.