Three Necessary Types of Insurance for Small Business Owners

Three Necessary Types of Insurance for Small Business Owners

As a small business owner, you don’t have a ton of time to dedicate to researching what types of insurance you need to properly protect your company. To make your life easier, keep in mind that there are three crucial types of Princeton insurance that your business really shouldn’t go without.

  1. Liability Coverage – This type of insurance protects your business in case an accident or injury occurs on your property or if a claim of negligence is made against your company. However, keep in mind that there are several types of liability coverage your business needs. These may include general, product, and professional liability Princeton insurance policies.
  2. Business Auto – A business auto insurance policy is similar to the type of coverage you have for your personal vehicle. However, this type of insurance is designed to cover any vehicles your business uses to make deliveries, visit clients, or conduct any other professional activity.
  3. Property Coverage – What would you do if a fire or a flood destroyed your business’ location and damaged your equipment and products? With property coverage, you ensure that you are not fully responsible for the costs associated with replacing your products and equipment or repairing your business’ location after an inopportune event occurs.

Remember, adequately protecting your business will likely take more than one insurance policy. If you have any questions regarding what types of coverage your company needs, you may want to speak with an insurance professional.