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What Kind of Insurance Does Your Business Need? 5 Options We Offer

Running any small business comes with its fair share of risks. Legal challenges or unexpected property damage can happen at any time. Taking a proactive approach by purchasing insurance is key to staying safe. Business insurance is available in many different types. At Wellcovered Insurance, we are an insurance agency that will help you compare all of your available options to find a plan that best matches your needs.

Here is an overview of the five different types of business insurance we offer.

1) General Liability Insurance
Accidents at a business can happen in an almost countless number of ways. General liability insurance is needed to protect your company against any claims of bodily injury, property damage, and even advertising mistakes made by your business.

For example, a customer may slip and fall on your property, or a marketing campaign inadvertently infringes on someone’s copyright. These situations could lead to costly lawsuits, which general liability insurance helps mitigate. Buying this insurance is essential for businesses of all sizes.

2) Commercial Property Insurance
Your physical assets are key to your business operations, whether you own a small cafe or a sprawling manufacturing facility. Commercial property insurance provides a much-needed safety net for your buildings, equipment, and inventory.

Getting this insurance can even cover the loss of income due to property damage from fire, theft, or storms. Acquiring insurance for your commercial property will help you rest better at night and give you peace of mind.

3) Professional Liability Insurance
Professional liability insurance is a must-have for businesses that provide services or advice. This business insurance steps in when a client claims that your service was inadequate, negligent, or caused them financial harm.

Getting professional liability insurance is especially recommended for consultants, lawyers, accountants, and healthcare providers. You can do your job with confidence by buying this insurance to protect against the financial impact of legal actions from unhappy clients.

4) Business Owners Policy
A Business Owners Policy (BOP) is a comprehensive package that bundles general liability and commercial property insurance, often at a more favorable cost than purchasing them separately. A BOP can also be customized with additional protections.

These policies often include business interruption insurance, which can provide reimbursement for up to a year if your company can’t operate as usual due to an insured property loss. A BOP is often a smart choice for small to medium-sized businesses seeking broad coverage with simplicity and savings.

5) Commercial Auto Insurance
Auto insurance for your company is needed if you use vehicles for transporting equipment, delivering products, or providing services. This type of business insurance for your vehicles offers financial protection against injuries or physical damages due to a traffic collision.

Auto insurance also provides financial protection from theft and other damages that can happen besides collisions. An insurance agency can work with your business to compare all of your available options to find the best policy to meet your needs.

Why You Need Professionals to Find the Right Coverage
Managing a business requires a lot of time and it’s easy to feel overwhelmed while looking at all of your insurance options. An insurance agency can save you a lot of work and make the entire process much easier.

Wellcovered Insurance partners with over 30 insurance carriers across the nation. Our team can find the right policy to make sure you are well-prepared for any situation. We have you covered whether you need professional liability, commercial auto, general liability, BOP, or commercial property insurance.

Need Business Insurance? Give Wellcovered Insurance a Call!
Choosing the right insurance for your business might seem complex, but it’s a key part of giving your company additional protection. At Wellcovered Insurance, our team can help you find the best insurance policies.

We also offer many other insurance options, whether you are searching for home, boat, RV, motorcycle, rental property, and much more. Finding the most affordable coverage and making things easy is always our priority. You can also visit our office if you have any questions.

Staying active in the local community is also important. Our company values are all about staying helpful, being easy to reach, taking the best action, defining issues, and finding the best solutions.

Feel free to contact Wellcovered Insurance today if you are in need of business insurance!