Priority Insurance LLC Blog
Manta and Insureon's study shows only 3 out of 10 small business owners have insurance. This business policy protects you from damages and can help you stay on your feet during hard times. And not having this one is not the kind of risk you wouldn't want to make for your business.
Basics of Business Insurance You Need to Know
If you have decided to take a chance in getting insurance, the following are the things you should know:
Business Owner's Policy or BOP
Business insurance is a starting point. Besides, it protects you from two of the biggest risks in entrepreneurship. General liability insurance covers lawsuits from any customer damages and properties. Commercial insurance covers the business damages of your due to fire or theft.
Business Interruption Insurance
This insurance covers when a business stops operating because of property damage. It helps you replace the income you are not gaining. Because you can't run the business operations as usual. For instance, if a disaster has damaged your property, you can still recover and recuperate.
Professional Liability Insurance
It's also known as errors and omissions. Likewise, it's the kind of insurance that professional service businesses often use. This covers you from lawsuits due to negligence or mistakes on the part of your business. Plus, it protects you when you need to defend yourself against false charges if you didn't make an error.
Small businesses are more prone to cybercrime. As owners don't have enough budget to protect their software and data. This insurance will be able to protect your business if you encounter a data breach or cyber attack.
Obtaining business insurance is a need for every entrepreneur, even for small business owners. Unexpected circumstances can come at any time. Insurance can help your business cover you from damages or losses. You can consider this as your safety net during events such as disasters, accidents, or theft.
At Priority Insurance LLC, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (864) 297-9744 or Click Here to request a free quote.