ensure your home insurance is perfect

ensure your home insurance is perfect

Different Types of Business Insurance You May Need

by Angela Gomez

As you start a business there are so many things you need to think about and take care of before you can open. You may need a tax ID and account, a business license, and of course business insurance. The time is busy and stressful, yet still exciting. It is easy to not pay much attention to your insurance needs and buy the cheapest policy you can find. While you may never need to make a single claim against the policy, however, if something does happen it can be quite devastating to you financially. Instead of simply having the insurance agent decide what coverage you need, take the time to consider your business, and make sure you have a policy that fits your needs.

General Liability Coverage

This coverage protects you and your business if anyone should be injured while on your premises or by one of your products. It can also protect you if a service you perform causes an injury. This is often applicable when you do some type of construction or mechanical repair.

Property Insurance

If your business requires some type of property, you need property insurance. You are protected from theft, fire, rainstorms, and the like. This not only pays for repairs to the property or building should something happen, but it also covers your equipment and materials.

Professional Liability Insurance

Professional liability is different than general liability. This is mainly for service-based businesses. It protects you from being sued if you make a mistake during the course of performing the service or failing to meet a deadline. Problems like an accounting error, not informing a client of a restriction on their choice of home or location. or not making an important delivery on time when it had been planned in advance and you agreed to the delivery time. However, it does not cover a data breach.

Data Breach Insurance

As more and more business is done at least in part over the internet it creates a lot of information that may be stolen. Full names, addresses, financial information, and even proprietary data can be found by hackers. Data breach insurance helps with the cost of notifying any affected clients and offering them services to minimize any damage they may receive due to the breach. In addition, it may replace your income if you need to shut down to fix the situation.

Don't just assume you have all the business insurance you need. Spend some time with the agent and discuss your business properly. While the agent may be knowledgeable about insurance, they don't understand your business needs until you talk about things.


About Me

ensure your home insurance is perfect

Home insurance can be complicated. How do you know how much coverage you need? How much of a deductible should you set? Does your home insurance cover all of the potential disasters that can happen? Will you get a big enough payout to replace the items that you would lose during a disaster? My blog is loaded with tips and advice that can help you improve your home insurance policy. It is my hope that my personal experience with loss can help you read, understand and improve your personal home insurance policy and avoid the costly mistakes that I had made.