Small business insurance
When it comes to insuring your business, we’ll design the right business insurance solution, one that’s tailored to meet the specific and evolving needs of your business. You can trust us to deliver on that promise – we have over a century of experience, and an unwavering commitment to our customers.
What is business insurance?
Small business insurance protects business owners from losses due to unforeseen events. This may include third party property damage, bodily injury, and errors.
Our industry expertise
We’re industry experts, and we draw on our expertise to find the right type and amount of coverage for your business. Whether you work with cars or equipment, food or fuel, we’ll craft a program that respects the finer points of your particular industry, pinpointing your risks and helping you mitigate them.
Why do small businesses need insurance?
Small businesses need insurance because it can help cover the costs associated with property and liability claims. Without insurance, business owners may have to pay for costly damages and legal claims against their company out-of-pocket.
Factors that can affect the cost of a small business insurance policy
Every business is different and may require different types of coverage depending on the risks they face. Some factors that insurance companies look at when calculating your premium include the size of your business, the industry, revenue, claims history, how long you’ve been in business, as well as the types of insurance you want your policy to have.
Benefits of small business insurance
If you have the following types of insurance in your policy, these are some of the benefits:
Commercial general liability (CGL):
Designed to protect business owners if they’re found legally liable for bodily injuries or property damage to a third party.
Example: If someone slips while visiting your shop and they injure themselves, your CGL policy may help with the costs you may incur from the accident.
Commercial property insurance:
Designed to help cover your building and its contents – Whether you own the building or are leasing it. Contents include things like equipment, furniture, fixtures, tools, machinery, and the property of others.
Example: If the door to your business space is vandalized, preventing customers from entering, your commercial property insurance policy could help with a covered loss and may help with the cost of repairs to get your business back up and running again.
Commercial auto insurance:
Designed to protect your business from costly risks and expensive losses that can result from car accidents involving your business vehicle.
Example: If you, your employees, or passengers get injured in a car accident, your commercial auto insurance policy may help cover medical expenses as well as lost wages. If you have to rent a temporary car after the accident, your commercial auto policy may provide replacement car coverage.
Cyber risk insurance:
Designed to help protect your company’s reputation and bottom line after a cyber incident.
Example: If an employee were to be targeted in a phishing scheme and they were tricked into sending login credentials to an outsider, that information could be used to access company records and customer data.
Should a data leak happen as a result, your company may face a lawsuit from affected customers, and you may need to hire a public relations firm to handle communications with the public. Having a cyber risk insurance policy could help cover these costs.
Where to get small business insurance
If you’re searching for small business insurance, we can help!
Get started by filling out this short form, and one of our experts will be in touch to start building you a customized policy that’s tailored to your business’ needs. They’ll also answer any questions you may have along the way.
