Aside from getting coverage for you and your family, you should also consider protecting your business from risks that threaten it – whether it is large or home-based. You need to protect your name, the name of your business, your workers, and even your clients. There are policies that you can purchase to get coverage for everything.
- Property Insurance
It will protect your business properties, such as abuilding or rented space, office furniture, equipment, tools, and even the products that you sell. Your policy can cover the damages sustained from fire, storm, theft, vandalism, and others.
- Business Interruption Insurance
In relation to damages sustained by your business properties, you will definitely need this policy. It can help cover the loss of income due to the inability of your employees to work in your office or when the production of goods is halted.
- Riders to Homeowner’s Insurance Policy
In case that you have a home-based business, you will need a rider for your homeowner’s policy to get additional coverage. Furthermore, some insurance companies consider an undisclosed business in your home as a violation of your insurance policy. Thus, you need to clear this issue to your insurance provider.
- Worker’s Compensation Insurance
This policy is used when an employee was injured or dies while doing his/her job. It will cover the medical treatment, disability, and death benefits. It can cover for slip-and-fall injuries, inability to walk, or medical conditions like carpal tunnel syndrome.
- Product Liability Insurance
Though you make sure that the products that your business sells are safe, it is still possible that you may find yourself in a lawsuit. The case filed against your business may be due to alleged damages and harm that your products caused. Using this policy, you can customize the coverage that you will get depending on the type of the product you sell.
- Automotive Insurance
If your business uses thevehicle to deliver a product or your employees to do their job, you will certainly need this. It will cover the damages sustained by your employee, the products, and for the third party involved in the car accident.