You’ve worked hard to grow your business — but is your investment protected? Business insurance is all about managing your exposure to risks, and has to adapt as your business grows and changes. That’s why BostonInsurance.com is breaking down insurance coverages you should have to make sure your dreams are in good hands.
General Liability Insurance protects a company’s assets and includes bodily injury and property damage coverage. In the event that an employee or customer gets hurt on your property — you’re covered up to the limits of your policy for medical and legal costs in the event that they sue.
Commercial Property Insurance
If your business is impacted by a disaster like a fire — your commercial property insurance would kick-in to cover the costs of repairing damages to your building, equipment, inventory, and even outdoor landscaping or signs. This coverage protects the physical building your business is in along with its contents in the event of an accident.
Liquor Liability Insurance
In the Bay State, you are required to have liquor liability insurance in order to obtain a liquor license, but the coverage amount is up to you. In the event that someone drives home after having a few too many and gets into an accident — does your policy fully cover the cost of medical bills and legal fees? An independent agent can assess your risk and find the policy that best suits your needs.
In the age of technology, this liability coverage is becoming necessary, not optional. Cyber Liability Insurance becomes critical if your business ever falls victim to a data breach. Keep in mind, online hackers aren’t the only sources of hacks — an employee who loses their phone or computer can also give hackers access to your private data. Cyber liability can help cover costs such as legal fees and settlement costs resulting from a breach, any fines or financial losses, along with costs associated with notifying customers of a breach and finding and repairing the source of a breach.
Commercial Auto Insurance
Commercial Auto Insurance is similar to your Personal Auto Insurance in that it provides you coverages such as liability, collision, comprehensive, and personal injury. Whether you own, rent, or borrow — commercial auto insurance covers vehicles used for business purposes.
We know that your business is unique, and that not every business requires the same coverage. Contact a BostonInsurance.com agent today at (617) 825-3900 or via our website to find a business insurance plan that fits your individual needs.