Those who own and operate a small business, like a restaurant, understand that profits and financial stability can be unpredictable. Regardless of what industry your company is in, small businesses tend to have less margin for error. If something goes wrong, it could easily have devastating ramifications for your finances and future. That’s why it’s important to protect yourself with an adequate insurance package.
What Is Small Business Insurance?
True to its name, small business insurance is a type of insurance policy intended to help small business owners protect their companies. These policies often package together several types of coverage for risks you are likely to encounter, such as:
- General liability—If your business is sued following an incident for which you are held liable, such as if a client or visitor suffers an injury or damage to their property, this coverage can help with resulting expenses.
- Commercial property—This coverage can help if your company’s property is damaged. This may include buildings, equipment, signage, furniture and landscaping.
- Professional liability—This type of coverage provides assistance for legal expenses and lawsuits stemming from inadequate products or services provided by your company.
- Workers’ compensation—If one of your employees is injured at work or develops a work-related illness, this coverage can help cover medical expenses, lost wages and legal costs.
- Business interruption—Certain circumstances may arise that force your business to pause operations temporarily. This coverage can help you recoup lost revenue, pay rent and provide wages to employees.
Work with an agent to determine whether your small business needs additional lines of coverage to be adequately protected.
Get the Right Coverage
As your small business develops and grows, it’s necessary to recognize how quickly a single event can derail its success. Even matters beyond your control, such as a fire or natural disaster, must be accounted for. Don’t leave all your hard work unprotected.
Our agents are prepared to help you insure your small business with the perfect policy to suit its needs and protect its future. Contact Hood Insurance Agency today to get started.