Every business, regardless of its size or structure (LLC, corporation, contractor, small business owner, etc.) requires some type of liability protection, although some owners go a step further and get a more comprehensive policy. No matter how you plan on setting your company up, or WHERE you plan on running it from (home, rental office, store, or anywhere else), you need to go online for new business insurance quotes that will suit your situation.
The good thing about getting them online is that you can take the time to learn all about different coverages and choose the best policy possible at a rate that you should be reasonably able to afford. General liability insurance for businesses don’t include everything, just protection from liability if a customer or third party is injured on your property.
What if you’re involved in marketing or advertising, and you set up a social media campaign for a client and that client is unhappy with the results? Don’t let them try to sue your firm or services – have yourself protected with professional liability insurance. This is a type of coverage that any kind of professional should get when searching for new business insurance quotes.
If products are part of your company, whether you’re involved in the manufacture, retail, distribution, etc. you’ll need to get product liability insurance just in case any of the products causes injury to any person in any way.
New Business Insurance Quotes For Your Own Property
Another thing that typically isn’t general liability insurance is your own property. Businesses that have a lot of property must get it insured just like any other property for protection from smoke, hail storms, fire, vandalism, and even civil disobedience. Flooding and heavy winds might or might not also be included. Imagine what would happen if your place of business was burned down overnight and all of the documents, equipment, etc. were all destroyed.
Even if you don’t have commercial property and run your business from home, you’ll still need specialized coverage for that, which can be added as a “rider” to your current home insurance policy. It will protect your home office equipment and provide liability coverage for any third party injuries related to any aspect of your home business.
The first step to do before getting new business insurance quotes is to assess your risks carefully. What kinds of accidents, lawsuits, and natural disasters have the potential to damage or even destroy your business? Even after you get your policy, you should continue reassessing everything and reviewing your coverage every year.
Once you have an idea of what you need, you can get more information about new business insurance quotes and what your best options are at Hiscox: Business Insurance. It’s a great company to start with and provides a wealth of helpful information and free quotes.