10 Types of Business Insurance Small Businesses Should Have

​Your business, no matter how small it is, should be properly insured. Not only it protects your finances but also you, as a business owner, and your employees. Hence, in this article, we will discuss the ten types of business insurance that small business owners should have:

10 Types of Business Insurance for Small Businesses

1. General Liability Insurance protects you from being liable to Property Damage or Bodily Injury caused to others. This plan covers you, your employees, or any of your products or services.
   
   
2. Property Insurance covers your business property, office tools, and other equipment in the vicinity. It handles the fees for repair and compensation in case of theft, vandalism, or fire.
   
   
3. Business owner’s policy (BOP) is a package that contains all required coverage that a business needs. This coverage includes property insurance, liability insurance, vehicle coverage, even crime insurance. 
   
   
4. Commercial Auto Insurance protects your business’ vehicles that carry products, equipment, tools, or even your employees. This type may include SUVs, trucks, vans, and other work cards from a collision and damages.
   
   
5. Worker’s Compensation covers your employees who are injured while doing the job. This includes medical benefits and wage replacement. 
   
   
6. Professional Liability or Errors and Omissions Insurance handles your fees to defend the business from the unprofessional and improper rendering of services. This insurance works best for law and accounting firms, as well as real estate companies.
   
   
7. Directors and Officers Insurance covers the heads of the business when confronted with legal situations due to their actions. This plan covers the loss and damages caused by the lawsuit. 
   
   
8. Data Breach Insurance covers the business’ losses brought about by breaching private information of the clients or employers either through paper files or electronic.
   
   
9. Homeowner’s Insurance is also needed in your small business. Since most small business starts to materialize at home, you also need to protect the office-related tools, equipment, and other items that you choose to stock inside your house. 
   
   
10. Renter’s Insurance can also be the case if you do not own a home. The same protects the content of your abode, including those that are business-related physical belongings. 

Having most of these coverages, if not all, should be your top priority when starting a small business. This way, you can have peace of mind in handling your finances, employees, and the products you offer. 

At Rick Case Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (405) 722-5556. You can also request a free quote by CLICKING HERE.