What Business Insurance Is Suitable For A Sole Proprietorship?

​When you’re launching a business, one of the options that could arise is a sole proprietorship. Understanding what that means for you and your business can be challenging, and it’s essential to consider exclusive proprietor insurance. Read on to learn what sole proprietorship is and what it means to get yourself insured. 

List of Business Insurance for Sole Proprietorship
Business insurance protects against medical bills, legal costs, property repairs, and more. Check out the list of policies that cover the common risks sole proprietors face:

1. General liability insurance
   This insurance covers everyday accident costs, including a client who suffers a bodily injury at your office. General liability insurance is best for accidental copyright infringement,  slip-and-fall accidents, and client property damages.
   
   
2. Professional liability insurance
   Popularly known as errors and omissions insurance (E&O), a Professional liability insurance policy covers legal costs when a sole proprietor commits a mistake that affects the client negatively. This insurance is best for errors that cause the client to lose money, missed deadlines, and accusations of negligence.
   
   
3. Workers’ compensation insurance
   The workers’’ compensation insurance protects sole proprietors from work-related medical bills denied by health insurance. Due to that, this coverage is perfect for medical expenses, disability benefits, and legal fees from employee injuries.
   
   
4. Cyber liability insurance
   By helping sole proprietors recover financially from cyberattacks and data breaches, cyber liability insurance is strongly recommended for small businesses that store personal information. This coverage is best for data breach investigations, notification costs, and PR costs for reputational harm.
   
   
5. Business owner’s policy
   A business owner’s policy protects sole proprietorship against common lawsuits and business property damage. It’s best for accidents that harm clients, business interruption insurance, and stolen or damaged business property.
   
   
6. Commercial auto insurance
   This policy covers the costs of a sole proprietorship’s vehicle accident injuries. Commercial auto insurance is ideal for property damage caused by vehicles, auto accident injuries, vehicle theft, and vandalism.

Protect Your Business with Priority Insurance LLC Insurance!
By buying sole proprietor insurance, you can ensure that your company is coerced when an injury or accident happens. A good insurance policy will boost your confidence and allow you to focus on your business. Buy your insurance now!

At Priority Insurance LLC, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We will 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. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!