In a 2019 study, 40% of small business owners did not have insurance. Seventy-five percent of those who did have insurance were underinsured.<\/p>\n
Insurance is an important part of running and owning a business. Without the right insurance, you could be stuck paying for legal costs, medical bills and repairs as well as property damage.<\/p>\n
Businesses that have insurance begin with a policy of general liability. Is general liability insurance enough to cover your needs?<\/p>\n
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Learn what business insurance you should consider, including general liability.<\/p>\n
General liability insurance covers your business against claims.<\/p>\n
You could be charged if you have defamed another business, a customer, or a competitor. In an interview, you could say something that damages the reputation of another person or company.<\/p>\n
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Downloading a photo from Google to use on social media is possible. If the image is protected by copyright, you could be sued.<\/p>\n
If a client slips on your property and is injured, they may sue to recover medical expenses, lost wages and damages.<\/p>\n
The claim could cost you thousands of dollars. You don’t pay anything out of pocket because your insurance covers the claim.<\/p>\n
Is your company covered by general liability if an employee is injured at work? It does not.<\/p>\n
It covers many things, but not everything. If your business is flooded in a natural catastrophe, for example, you will not be covered.<\/p>\n
Only commercial property insurance will cover your business if it is robbed or vandalized. Many businesses opt for an umbrella policy that combines general liability and property insurance.<\/p>\n
Only auto insurance policies cover accidents. Coaches and consultants, for example, should have a policy that covers errors and omissions.<\/p>\n
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Do you have sensitive data about your customers, like payment information? Cyberattacks are a threat to every business.<\/p>\n
Cyber liability insurance covers your business in the event of an attack. The policy covers interruptions of business due to hacks or data breaches. Some policies also cover public relations.<\/p>\n
To determine which insurance policies are best for your business, you should consult an insurance firm that specializes in commercial coverage.<\/p>\n
General liability insurance is essential to protect your business. You need more than just this policy to protect your business.<\/p>\n
Consider other types of insurance for your business, such as workers compensation, cyber liability and property insurance.<\/p>\n
Check out our blog for additional business tips.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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