Small Business Insurance Information
Owning and running a business can be overwhelming with your small business’s expansive variety of insurance options. This means you have a variety of ways to provide protection and keep your business financially secure from harm. At Epic One Insurance Group, LLC, we’re ready to help you find the right coverage to meet your business needs and beyond.
What Is Covered By Small Business Insurance?
There are seven common types of business insurance that are offered:
Commercial property insurance—This policy provides coverage to your building and other belongings of your business in the event of a fire, explosion, storm, theft or burst pipe. Commercial property insurance is offered on either replacement cost or actual cash value. Replacement cost pays for the replacement or repair of property, while actual cash value pays for the cost of repair or replacement minus the depreciation. The policy best suited for you will vary. General liability insurance—This policy covers claims of bodily injury or property damage resulting from your products, services or operations.
General liability insurance can also help pay for legal fees and expenses. There are four coverage elements within this policy:
Premises liability covers you if a person who is not employed at your business becomes injured on your property. If someone sued your business because they tripped and fell on your property, liability insurance can help cover those expenses.
Products liability covers you if a product or service causes injury to someone’s body or inflicts damage on a consumer’s personal property.
A personal injury is when your business inflicts a physical, financial or mental injury to a third party.
Advertisement injuries are caused by alleged misinformation, copyright infringement or slander made by your company.
Employment practices insurance—This policy helps cover wrongful acts during the employment process.
Workers’ compensation—This policy helps cover medical bills or wage replacement if an employee incurs a work-related injury or illness.
Cyber liability insurance—This policy can help protect your business against a cyber attack that could cause data loss, revenue and customer trust.
Commercial auto—This policy helps cover the costs of an auto accident if an employee is at fault.
Professional liability—This policy can help protect your business against claims filed about a service you provide to a client that causes suffering due to failure to properly perform your service.
How To Get Started With Small Business Insurance
At Epic One Insurance Group, LLC, we’re ready to assist you in finding the right insurance coverages for your small business. If you’re looking to get started or find more information, contact an agent today.