Three Types of Insurance You Need as a Business Owner
As a business owner, you will have to provide certain insurance benefits for your workers. You’ll also need to obtain certain insurance policies that will protect your business if certain situations and occurrences come your way. The following are three types of insurance you’ll need:
Liability insurance is protection you need in case someone gets hurt while inside your business establishment. This type of coverage protects you by paying for damages or medical bills that an incident may cause that person to have. General liability insurance is one of those must-have policies that no business owner should ever go without having.
Workers’ Compensation Insurance
Workers’ compensation Insurance is something that will most likely be required of you to have. You’ll have to provide it to your workers if you have more than just a handful of people working for your establishment. The insurance will cover your employees if they ever suffer severe injuries while they are performing the duties of their jobs. They’ll receive a portion of their regular paychecks if they meet certain criteria.
Commercial Property Insurance
Commercial property insurance is a different type of insurance you may need for your business. This type of coverage protects you in the case of unexpected happenings. For example, it might cover you if you experience damage from a storm or if someone enters your business establishment and robs you of something. This type of insurance can also help you if you experience vandalism. The premium should not be that high, but an insurance company in Miami can tell you more about it.
Now you know some of the most vital insurance policies you need to think about getting for your establishment. You can look into those policies can compare premiums by contacting a reliable insurance agent right away. He or she will direct you toward the best coverage for your business.