With so many different types of insurance to choose from, it can be overwhelming to determine what type is best for your small business. Brown & Brown Gulf States is here to help explain the types of insurance policies available and how they can help protect you, your employees and your business’s bottom line.
Seven Insurance Policies for Small Businesses
- Commercial Property – Commercial property insurance is typically purchased as a stand-alone policy or as part of a comprehensive business owner’s policy that includes property and general liability coverage. Commercial property insurance is offered on either a replacement cost or actual cash value basis.
- General Liability – General liability insurance policies typically cover an organization for claims involving bodily injuries and property damage resulting from its products, services or operations.
- Employment Practices Liability -Employment practices liability insurance (EPLI) is a form of insurance that covers wrongful acts that occur during the employment process.
- Worker’s Compensation – Workers’ compensation is important in the event that an employee suffers a work-related injury or illness. This type of insurance is required in most states and is used to cover medical bills or wage replacement for employees who experience a work-related injury.
- Cyber Liability – If any part of your business is on an online platform, it is crucial to obtain cyber liability insurance. This type of coverage can protect your business from a cyber attack
or interruption that can cause a loss in data, revenue and the trust between you and your customers.
- Commercial Auto – Commercial auto insurance helps cover the costs of an auto accident if you or an employee is at fault. This coverage can help pay for damaged property and medical expenses.
- Professional Liability – Professional liability insurance, also known as errors and omissions (E&O) insurance, can protect your business against claims that a service you provided caused a client to suffer due to a mistake on your part or because you failed to perform a service.
Contact Brown & Brown Gulf States at (337) 234-5111 to help you analyze your needs and decide on the right coverage for you and your growing business.