Welcome back to the Security Insurance Group blog. Our post today is dedicated to providing you with further information on what types of insurance policies all small businesses should have. If you’re just joining us, then make sure to check out our last blog post, where we started the discussion on insurance types that you should definitely be looking into. As a small business owner, risk is sometimes the only thing that you know, but that shouldn’t be the case with everything that you deal with, and when you can avoid it you might as well. When it comes to your insurance, it’s always better to be safe than sorry, and Security Insurance Group makes sure that you are taken care of by providing you with those high-quality insurance plans. Here are a few others that you should be investing in if you are a small business owner.
INSURANCE ALL SMALL BUSINESS OWNERS NEED – PART 2
COMMERCIAL AUTO INSURANCE
If you own a car, then you know it’s an absolute must to have your vehicle insured. This type of insurance protects both you, any passengers in your car or a car you hit, and your cars in the case of an accident. This type of insurance can save you hundreds of thousands of dollars in the case of an accident, but can also save you money in regards to the upkeep of your car. From broken windshields to any dents from a hit and run that you wind up with, you can keep your car in good quality with the help of commercial auto insurance. This is a huge must if your small business does utilize vehicles to get the job done. Whether you have one company car or hundreds, commercial auto insurance provide protection on any of your company vehicles that your employees use to get around or that you use to carry your equipment.
BUSINESS OWNERS POLICY
This insurance policy is also known as BOP. This is an insurance policy that is designed specifically for business owners and provides all of the coverage that business owners are required to have. What’s great about this package is that you can pick and choose what types of coverage you’re going to need so that you’re entirely sure you’re prioritizing the types of things that you and your business are going to need. At times, this type of policy will include your commercial vehicle coverage, liability insurance and more. If you’re looking to get all of your bases covered on a pretty basic level, then a business owner’s policy might be one of the best options that you can start off with. The primary reason for that is that it bundles all of the required insurance policies that you’ll need, and in doing so will usually save you a little money along the way.
DIRECTORS, OFFICERS, SUPERVISORS & MANAGERS
Do you have any positions in your business that will be dealing, first hand, with affairs that could affect the profits of your company? Most businesses that deal with serious clients will work with bigger accounts or have clients that, if something goes wrong, could affect the way that your business is running. This particular type of insurance is one that will protect that individual in the case of a lawsuit. This is not always a concern for all types of business owners, but when you are dealing with a service, product or account management that could leave you with legal responsibilities, then you might want to consider protecting those positions with legal coverage. If you are working with this but don’t want to consider this as a must, remember the risk and overall costs that you could be paying if you don’t take the precaution of investing in this type of insurance policy.
We’ve covered quite a bit in our blog post today, but there are still plenty of other insurance policies that small business owners should consider. Secure Insurance Group offers the insurance that you need to protect your small business and to make sure that you are minimizing the risk that you already put into starting off on the right foot. Make sure to check back soon for further insurance policies that could prove to be helpful for you and your business.