5 Types of Insurance You Need to Protect Your Business

​As soon as you start up your business, you are exposing yourself to certain risks. Natural disasters, lawsuits, and terrorism are some incidents that can wreck your business in an instant. So, keep your business a priority and make sure you are protecting it with these five types of insurances.

​Commercial Property Insurance
Whether your business owns or leases a space, property insurance is a must. This insurance protects your business against damages sustained from unwanted events like fire, storm or theft. It covers your working place, equipment, records, and other physical thing owned or rented by your business. 

Workers’ Compensation Insurance
As an employer, your employees are your responsibility. It is your duty to keep them safe and secure while working with you. Employee’ compensation insurance covers disability, medical bills, and death benefits in the event an employee dies or gets injured on the job. 

Commercial Auto Insurance
If your business uses vehicles for operation, then it is essential that you are ensured with a commercial auto policy. This insurance covers your business for bodily injury or property damage in events of accidents involving your commercial vehicle. However, if your employees are using their own car for business, then make sure you have non-owned auto liability in case the employee doesn’t have insurance or has inadequate coverage. 
 
General Liability Insurance
Every type of business, even if home-based, needs to have liability insurance. The policy provides protection from damages in events when your business services or your products are alleged to have caused bodily injury or damages to a third party. For example, if a product is defective and is claimed to have caused accidents or injury, a lawsuit can be filed against you. So be sure you are protected from such situations by considering this insurance for your business.

Errors and Omissions (E&O) insurance
Similarly, if your business caters to providing professional services, which includes making recommendations, giving financial advice, designing products, etc.; you are subject to being sued in the event you give faulty or wrong recommendations. This professional liability insurance will protect your business from these errors and false claims of failure, and pay for legal expenses up to the policy limits.   

Life is unpredictable and so is your business, so purchasing business insurance is a smart decision to make. By buying the right coverage for your business, you can avoid a significant financial loss due to a lawsuit or a catastrophic event. 

At Rick Case Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (405) 722-5556 or Click Here to request a free quote.