Are you getting ready to start your business but aren’t sure what insurance coverage you need? Maybe you’ve started your search for business insurance in Delaware but all the options available have you feeling a little confused. Here are three of the most basic coverages you’ll likely need to get started and what they mean.
Liability insurance is the general term used for insurance that covers your business in case a third-party experiences hurt or loss as a result of your business. While there are plenty of others, two of the more popular examples of liability insurance are general liability and professional liability insurance.
Property insurance covers your physical and digital assets. Your policy will provide funds to cover for the repair or replacement of your property for reasons ranging from fires and storms to vandalism and theft.
Workers’ compensation isn’t always a required coverage, but it’s highly recommended even if you only have one employee. In case of injury or illness due to job-related activities, your policy will be available to cover any legal fees as well as medical expenses. Some policies will even pay your employees’ salaries while they’re out of work.
Don’t allow the many options for business insurance in Delaware to stop you from getting the coverage you need. Work with an experienced agent to get a policy customized to your exact needs.