Essential Types of Insurance for Small Businesses

Small Business Insurance to Consider

When it comes to starting up a small business, there are a huge number of important things to consider. One of the more critical things to think about, which many people forget to consider, is business insurance. Although your business is small, it is not immune to risks. There is an extensive number of policies to choose from, so how do you know where to start? We’ve put together a list of some of the most popular business insurance in Long Island, NY that can be beneficial to your small company.

General Liability Insurance

Every business, even if it is a one-person business working from home, needs to have liability insurance. The policy provides both defense and damages if you or your employees or products cause bodily injury or property damage to a third party.

Property Insurance

Property insurance will protect a business’ personal property (such as office furniture, computers, office equipment, etc.) against many disastrous scenarios, including the event of a fire, theft, and even vandalism.

Business Owner’s Policy (BOP)

A business owner policy packages all required coverage a business owner would often need. That means that a standard BOP can include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance. This helps the business owner to save money by bundling all the services together.

Commercial Auto Insurance

If your business owns or operates vehicles, you’ll need a commercial auto insurance policy. This commercial policy can cover a single vehicle or a whole fleet of them.

Workers’ Compensation

Workers’ compensation provides insurance to employees who are injured on the job, regardless of fault. It will help to cover lost wages and medical benefits for the injured, and protects the business from legal complications.

Are you ready to find the right commercial insurance for your growing company? Talk to the professionals at Premier Risk Insurance. Our team members are experts in determining your needs, sticking to your budget, and protecting your investment. We serve Long Island and the neighboring cities of New York!