Do you have the right insurance for your business?
Here’s a list of types of policies to consider.
Liability insurance covers damages and defense for bodily injury, personal injury such as slander, and property damage to a third-party that is caused by you, your products, or your employees.
Property insurance covers your building and personal property such as office equipment, computers, and inventory from damages caused by theft and fire. You may also want to consider coverage for equipment breakdowns or the provision of operating funds while your business recovers.
Business vehicle insurance covers third-party claims for bodily injury and/or property damage arising from use of business vehicles. Comprehensive policies may cover damages to, and theft of, your company cars. Be aware that your personal vehicle policy may exclude coverage for business vehicles and use of your personal vehicle to deliver goods or services.
Workers’ compensation is generally required by law. Coverage includes medical treatment, disability, and death benefits for employees hurt at work.
Professional liability, also known as “Errors and Omissions,” or E&O insurance, covers defense and damages for claims of negligence resulting from mistakes or omissions in products or services.
Umbrella insurance, or extra liability insurance, provides a safety net when your original insurance does not cover the total claim.
Directors and officers insurance protects the directors and officers of your business from lawsuits over actions resulting from their management of your company.
Data breach insurance may be necessary if your company stores sensitive or non-public information about employees or clients.
Business interruption insurance can provide compensation for income lost during a disaster or catastrophic event.
The new year is a good time to review your insurance needs and coverage amounts.
If you have questions, we’ll be happy to work with your insurance professional to protect your company from risk, or give you recommendations for an insurance professional to contact.
Please give our office a call at (360) 671-0700, or send us an email using the form below and let us know how we can help.