Business Insurance

Business Insurance

The Walters Agency

The Walters Agency

Running your own business can be rewarding. Unfortunately, it can also be risky. Thats why purchasing the right insurance coverage is critical to protecting your assets. Business insurance, also called business owners insurance, protects your company from loss and from damages due to lawsuits.

Who Needs Business Insurance?

These policies are geared toward anyone who runs a business, whether large or small. If you interact with the public, have employees or own equipment, its a good idea to purchase insurance to protect against the liabilities.

Home-based businesses also benefit greatly from obtaining insurance. If the business sells a product, such as jewelry or makeup, insurance protects against loss or theft. In addition, if a client visits your home and trips on a loose stair, your business policy pays your legal fees and the award amount if you lose the suit.

Types of Coverage

This type of insurance is broken down into different categories to allow business owners to select the components that are right for them. Businesses can choose to purchase coverage in any or all of the categories below.

  • General Liability- This is the most basic coverage that is designed to protect owners from lawsuits claiming injury, damage or negligence.
    Product Liability- This insurance is suitable for companies that sell or manufacture a specific product. The policy covers claims of injury or damage caused by the product.
  • Professional liability- This critical coverage is also called Errors and Omission Insurance. It protects businesses against claims of malpractice or errors committed by the owners or the employees.

There are other policies and riders that you can purchase based on the specific needs of your business, such as equipment coverage and electronic data coverage.

Many business owners are overwhelmed with the number of insurance options available to protect a business. We can sort through all of the information for you and find the coverage thats right for your business needs.