Business Insurance Information
Every business, no matter its size or industry, should have an insurance policy that encompasses areas of potential risk to protect its employees, owners, customers and anyone else the business interacts with.
What Is Business Insurance?
Business insurance includes a wide range of coverages packaged together to provide the necessary protections for each aspect of a business, such as lost income, natural disasters, theft, fire and data breaches. Policies are created based on various factors, including business location, current finances, building construction, security features, fire hazards and type of industry.
What Does Business Insurance Cover?
When choosing a business insurance policy, it’s essential to be aware of all the available options. Most business insurance policies include some combination of the following:
- Business property insurance helps protect the physical building and equipment used for business operations.
- General liability business insurance helps protect a business from claims of bodily harm or property damage to someone’s personal belongings.
- Business auto insurance helps protect employees who drive company-owned vehicles for business purposes. This is important to include even if an employee has personal car insurance because their personal policy will not cover third-party claims if they cause an accident while driving a business-owned vehicle.
- Workers’ compensation insurance provides employees with benefits if they are sick or injured due to an incident or condition at work. These benefits will help cover expenses for medical bills, lost wages, funeral costs and any necessary ongoing care.
- Business income insurance helps cover lost income due to situations preventing normal business operations, such as a fire, theft or a severe storm.
- Professional liability insurance helps if a business is part of a lawsuit claiming they have made a mistake in the services provided. It is also commonly known as errors and omissions (E&O) insurance.
- Cyber insurance helps a business respond if any personally identifiable information gets stolen. Cyber insurance can help cover the cost of notifying affected parties, providing identity theft monitoring services and creating a public relations campaign.
- Commercial umbrella insurance helps prevent a business from paying out of pocket for costs that fall outside the limits of specific liability policies. This can include legal costs, medical bills, damage to other people’s property, and judgments and settlements.
Business Insurance Quote in the Atlanta Area
Don’t hesitate to get a quote on a business insurance policy. Contact Peachstate Insurance
at 877-997-2478 or request an online quote. We will make sure you have the coverage you need.