Types of Insurance for Your Business

 In Blog, Business Insurance

Taking a chance on yourself and starting your own business is scary and exhilarating. However, before you open your doors and start making your presence known, you need to protect yourself, your product, your property, your investments, and future employees. An independent agent in your area can help you put together a complete insurance portfolio for your business.

Types of business insurance

Make sure you have a comprehensive insurance portfolio that protects you and your business.

Insurance for every aspect of your business

When you’re preparing to launch a new business venture, you want to think positive and keep your eye on the prize. However, you also have to be realistic about all the things that could go wrong. There are several types of business insurance that you will need to protect every aspect of your business. Insurance is one expense where you don’t want to compromise. It’s better and more cost-effective to have insurance and not need it than it is to need insurance and not have it.

General Liability

You need to protect yourself in the case of accidents and injuries, or if you are accused of negligence. General liability will protect you in case someone is physically injured.

Product Liability

On top of general liability, you need to get product liability in case you are held liable for the malfunction of a product. Product liability will protect you against financial loss as a result of the product being defective or unsafe.

Types of business insurance

You need commercial property insurance for your place of business. If you work from home, you still need extra business insurance.

Professional liability insurance

Depending on your industry, you may be required to carry professional liability insurance in addition to product liability to protect you in case you are faced with malpractice lawsuits.

Commercial property insurance

Whether you have a physical office space or you are working from home, you need to get a separate insurance policy for your place of business. If you are working from home, your home insurance won’t cover business losses due to theft, fire, flood, or other occurrences.

Talk to a local agent about your business insurance options

AAI Central is an independent agency in Thornton, Colorado. As business owners, we understand the special protections businesses need to prosper. Whether your business is big or small, simple or complex, we have the special knowledge and expertise to identify ways to properly insure your business.

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