Find the right business insurance
Business owners should consider several types of business insurance to protect against a variety of work-related incidents. Injury, illness and property damage are just a few of the many things that could put the financial health of your business at risk.
Business owners should consider several types of business insurance to protect against a variety of work-related incidents. Injury, illness and property damage are just a few of the many things that could put the financial health of your business at risk.
What Business Property Insurance Covers
General Liability
Nearly all businesses should have this common liability coverage. It protects against a wide variety of bodily injury and property damage claims, such as a slip-and-fall accident. It also protects against personal and advertising injury, as well as other liabilities related to your work.
Commercial Auto
You need this coverage if you use your vehicles for your business, such as making deliveries or traveling between job sites. It provides liability and physical damage coverage for your work vehicles and trailers that typically aren’t covered by a personal auto policy.
Cyber Insurance
Cyber insurance protects your computer systems and data from electronic threats, like data breaches and cyber attacks. Businesses that store or manage sensitive data, like credit card numbers or medical records, should consider this coverage.
Business Owners Policy (BOP)
A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property, such as a storefront, warehouse or office building.
Professional Liability
Businesses that provide professional services, such as accounting or legal services, should consider this coverage. It protects against actual or alleged negligence and defense costs. It’s commonly known as errors & omissions insurance (E&O).
Workers' Compensation
Workers’ comp isn’t required by law, but you should still consider it for the well-being of your business and employees. It helps pay for expenses related to employees who become injured or ill on the job.
The cost of a business insurance policy depends mostly on the type of work you do. Each industry is exposed to different types of risk, and this causes their rates to differ. For example, high-risk businesses like general contractors and manufacturers often need specialized coverage that is usually more expensive.
Other factors that affect your rate include business size, coverage needs, and location.
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Since 1970, the Miyazaki Insurance Service has been serving policyholders – protecting businesses and mitigating losses.
