1. Types of Coverage
Small business insurance typically includes various types of coverage, such as:
General Liability: Protects against claims of property damage or bodily injury.
Commercial Property: Covers damage to your physical assets, including buildings and equipment.
Business Interruption: Provides income replacement during unexpected downtime. Professional Liability: Protects against claims related to professional errors or negligence.
Workers’ Compensation: Covers employee medical expenses and lost wages due to work-related injuries. Product Liability: Shields against claims related to products you sell or manufacture.
Cyber Liability: Protects against data breaches and cyberattacks.
2. Coverage Limits
You can adjust coverage limits to match your business’s size and assets. Higher limits provide more protection but come at a higher cost.
3. Deductibles
Choosing higher deductibles can reduce your premium costs, but it means you’ll pay more out of pocket in case of a claim.
4. Endorsements
Consider adding endorsements to your policy for specialized coverage, such as flood insurance or additional liability protection.
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