Whether you built your business from the ground up or breathed new life into it after acquiring it from someone else, you have a lot to protect. Running a small business puts you at risk for certain losses and liabilities, some of which can pose a serious threat to your financial future. Here at Insurance Innovations, Inc, we provide small business insurance for many different types of businesses, from sole proprietorships to multiple-location companies. Our job is to close coverage gaps and minimize your vulnerability to risk so that you can focus on what you do best – serving your customers.
Types of Small Business Coverage
Do you know the hazards that threaten your business on a day-to-day basis? Do you know how much it would cost to start over if you lost everything? Before you can determine how much and which types of coverage to choose, you must first know what you have to lose and what could cause you to lose it. From fires and theft to professional errors and slip-and-fall accidents could pose a threat. Make sure you work with an independent agent at our office to take the guesswork out of your coverage needs. Your small business insurance could include:
General Liability
Lawsuits are common in today’s litigious society, and protecting yourself against them is essential to ensuring the continuity of your business. When injuries and accidents occur on your premises or as a result of the activities of your business and its employees, general liability insurance can help cover medical bills, property damages and other costs.
Commercial Umbrella Insurance
Some lawsuits result in very large legal fees and judgments. If your business is on the wrong end of a major lawsuit, the damages could exceed the limits on your liability coverage. In these cases, commercial umbrella insurance can provide a secondary safety net, picking up with supplemental liability coverage here your primary insurance policy leaves off.
Workers Compensation
When workers are injured on the job, you can be held liable. Workers compensation helps cover the cost of employee medical expenses and lost wages incurred as a result of a workplace injury.
Property Insurance
If your business is like most, it operates out of a physical location with physical equipment, inventory, and assets. If a fire, theft, inclement weather or some other covered event causes damage to your business, property insurance can help cover your losses.
Business Income Interruption
If your business is unable to serve customers due to a covered event, business interruption insurance helps replace the cost of your loss of income. With this type of coverage, you can continue to pay the bills until you can resume normal operations.
Commercial Auto Insurance
If you utilize one or more vehicles for business purposes, you may need commercial auto insurance. This type of coverage helps pay for damages to your vehicle and injuries to the driver and his or her passengers. It can also cover liability for property damages and injuries caused to victims in an at-fault accident.
Employment Practices Liability Insurance (EPLI)
If an employee accuses you of discrimination or other unlawful employment practices, EPLI can help cover the cost to defend yourself in court. It can also help cover your financial liability if you lose your case.
Errors and Omissions (E&O)
If your business provides advice, consultations, or professional services, you could be held liable for any mistakes that result in a loss for your clients. E&O insurance helps cover your liability for these inaccuracies and errors.
Small Business Insurance
If you own a small business in Grafton, Thiensville, Mequon, or anywhere in Wisconsin, make sure your business is fully covered against any possible loss. Call the team here at Insurance Innovations, Inc to request your risk assessment and get a quote for coverage for your small business. We look forward to building a small business insurance package that fits your needs and protects your bottom line.
