Do you own a Small Business?

Having been a small business owner for many years, I always get excited when someone calls our office for small business insurance! These businesses are the backbone of our country, and we love serving these entrepreneurs and business owners!  

If you have a small business, or are considering starting one soon, let me share a little bit about the different types of policies that are available to protect your assets.

The type of policy that you need depends upon your business, and business structure (i.e. LLC, sole proprietorship, corporation, etc). Today we will share a bit of information about the different insurance policies, as defined by the Small Business Association, SBA.

The 7 Types of Small Business Insurance:

General liability insurance: This coverage would be applicable to all small businesses, and offers protection against financial loss as the result of bodily injury, property damage, medical expenses, libel, slander, defending lawsuits, and settlement bonds or judgments.

Product liability insurance: This coverage is for businesses that manufacture, wholesale, distribute, and retail a product. This policy protects against financial loss as a result of a defective product that causes injury or bodily harm.

Professional liability insurance:
This policy is for businesses that provide services to customers.  It protects against financial loss as a result of malpractice, errors, and negligence.

Commercial property insurance: This covers businesses with a considerable amount of property. This coverage protects businesses against loss and damage of company property due to a wide variety of events such as fire, smoke, wind and hail storms, civil disobedience and vandalism.

Home-based business insurance: If you run a business from your home, you can consider this policy that’s added to homeowner’s insurance as a rider can offer protection for a small amount of business equipment and liability coverage for third-party injuries.   
Business owner’s policy: This would be a good fit for most small business owners. It is an insurance package that combines all of the typical coverage options into one bundle that can simplify the insurance buying process and save you money.  

Do you have a Small Business and want to make sure you are fully protected? Give us a call at (714) 340-0295, and we would be happy to work with you and answer any questions you may have.