How to Protect Your Small Business
Starting a small business isn’t for the faint of heart. It means taking a chance, pursuing a passion, and going out on a limb for something you believe in. There are a lot of risks and even greater rewards—if you’re successful.
To minimize the risk and maximize the rewards, you must do several things. The first? Make sure your business is properly insured. A good insurance plan will allow you to build and protect your business while you work on claiming your piece of the American dream.
Every business is different, with unique challenges and opportunities. That’s why Sheally Insurance Group never tries to force your business into a pre-made solution, and instead works to find a program and package that truly meets your needs. Here a few of the policies we offer:
Worker’s Compensation Insurance
A business’s most valuable assets are its people, so make sure you protect your employees! A big part of this is workers’ compensation insurance. This covers medical treatments, disability, and death benefits if an employee is injured or dies because of their work or while on the job. If your business is office based or seems low risk, don’t assume workers’ comp is something you can skip. Anything can happen anywhere, and you need to be prepared for everything.
Commercial General Liability Insurance
This type of insurance protects you if you’re sued because of an accident, injury, or claim of negligence. For example, if a customer trips in your store and breaks her arm, she may try to file a lawsuit. If someone is injured by a product you’ve sold them, they may seek compensation from your business. Commercial general liability insurance can help cover some the related costs from these types of fallouts.
Commercial Auto Insurance
Company vehicles require a commercial auto insurance policy. These policies protect your business against liability in the case of an accident. We generally recommend comprehensive insurance that covers the vehicle involved in the accident in addition to third-party injuries, to cover all the bases. If your business includes an employee-operated vehicle that delivers goods or services, this will necessitate yet another insurance policy.
Commercial Property Insurance
If you own or lease a space for your business, property insurance is a necessity. If there is a fire, storm, or theft, this type of policy will cover your equipment, signage, inventory, and furniture.
Commercial Umbrella Insurance
Umbrella insurance offers excess liability protection in case your other insurance policies are insufficient. Think of it as a backup plan, just in case. If you’re in an especially risky business, this is an excellent policy to purchase, as it will keep your business from being wiped out by a large claim that exceeds your policy’s limits.
No matter what business you’re launching, one thing is clear—you need to protect your employees, your products, and your livelihood with the right insurance policies. Be sure to add “Sheally Insurance Group” to your business plan and you’ll be one step closer to making your entrepreneurial dreams come true.