Starting a business is hard and keeping it financially stable is a long-term struggle. Having commercial insurance is the best way to protect your company from any unforeseen disasters or lawsuits that may disrupt your business.
Common Types of Commercial Insurance
- Liability Insurance – protects you if someone is injured on your property. If a customer is hurt because of an accidental spill, they could bring a lawsuit against you. You may be required to pay medical costs as well as pain and suffering fees.
- Worker’s Compensation – gives you protection if an employee becomes injured during working hours. Even if part of their job is to haul heavy boxes, you may be responsible if their back is injured at work. The injured employee could also receive weeks of paid time off and medical coverage for the injury. Without worker’s compensation, your business could suffer if you had to pay out-of-pocket.
- Property Damage Insurance – can give you relief if your business was damaged or destroyed by fire, flood, storm, or other types of disasters. You work extremely hard to keep your business going and you wouldn’t want an accidental fire to shut you down permanently.
- Disability Insurance – is optional plan coverage that may help if you become disabled or too sick to run your own business. You may receive partial income while you are disabled.
- Business Interruption – is an option that would help if you needed to maintain your income in the event of a disaster.
If you need to research a new or existing insurance plan, the independent agents at ALLConnecticut Insurance in West Hartford are available to help. Whether you are a small, medium, or large business, the agents will be able to offer information and plan options for your company.