What Types of Business Insurance Do Start-Up Small Businesses Need?

What Types of Business Insurance Do Start-Up Small Businesses Need?

Small Business Insurance for Start-Ups

Starting a business involves a lot of decision-making and long to-do lists, so many owners don’t spend enough time looking for the right insurance for start-up businesses. Regardless of what industry you’re in, you need to protect your business, your employees, and your bottom line. Check out these insurance coverages that your business may need.

Property Insurance

Whether you own or lease a space, property insurance is a must for your business. This coverage can protect equipment, signage, inventory, and furniture in the event of a disaster or theft. While protection from many natural disasters like fire and storms are included in your policy, mass-destruction events like floods and earthquakes need their own policies to provide protection.

Workers’ Compensation Insurance

Even if you only have hired one employee, you still need this insurance. Workers’ comp is designed to cover medical treatment, disability, and death benefits in the event an employee injured or dies as a result of his work with that business. Even if employees are performing seemingly low-risk work, accidents can happen. Protect your business from a pricey claim with this insurance.

Commercial General Liability Insurance

Each industry comes with its own unique set of risks and concerns. This coverage is wide-ranging and can cover instances such as libel, slander, and privacy violations. It also can protect against other common lawsuits against small businesses, such as bodily injury due to slip-and-fall accidents that occur on business premises.

Cyber Liability Insurance

Cyber-crime has been a hot topic lately with many businesses waking up to the importance of being safe online and securing reliable protection. Cyber insurance can protect against network breaches, privacy breaches, and internet media liability.

Commercial Auto Insurance

Is your small business on the go – literally? If company vehicles will be used, then they should be fully insured to protect against liability if an accident occurs. Just as you wouldn’t drive your personal vehicle without insurance, don’t drive your business’s vehicle without the right protection.

If you would like to talk to an independent insurance agent who will make sure your business gets the individualized, customized attention it deserves, contact American Premier Insurance. We have years of experience protecting businesses in Phoenix, and the surrounding Arizona area, and are here to help you get the right business insurance policies at the right prices!