Every small business, regardless of what kind of services it offers and how many employees it has, needs to protect their assets with small business office insurance. Ensuring you're buffered against the risks of property and equipment damage, lawsuits, loss of income, and other situations is of vital importance. Business office insurance from AmVenture Insurance Agency Inc. reduces the likelihood that your business could take a significant hit whenever the unpredictable happens.
About Commercial Office Insurance
Accidents happen, and commercial office insurance helps to protect the business and its assets whenever a problem develops. Consider how it would impact your business if your property was vandalized, if a water pipe burst and caused damage to your valuable equipment, or if a fire completely destroyed your building. Having commercial office insurance helps prevent you from paying these expenses out-of-pocket.
Any small business, including home-based and start-up businesses, faces the possibility of dealing with unique risks on a day-to-day basis. Real estate agents, general contractors, roofing companies, medical professionals, marketing consultants, and every other type of small business can benefit in many ways from a commercial office insurance policy.
Is All Small Business Insurance the Same?
Since every business is run differently and offers varying services, the types of coverage it needs depends on multiple factors. For example, if you use mobile equipment in your line of work and you accidentally cause property damage to a customer's home, commercial auto insurance could help cover the expense. Or, if a customer accuses your company of providing unprofessional workmanship and files a legal claim, professional liability insurance could help to cover the costs of a lawsuit. Every business owner needs small business insurance that's designed for businesses like theirs.
Some of the most common types of commercial office insurance coverages include:
- General liability - Covers bodily injury or physical damage that happens to a third party's property because of a service you performed
- Workers' compensation - Pays medical and hospital expenses if you or an employee becomes injured while working
- Commercial auto insurance - Covers vehicles you use to conduct business as well as expenses that arise after an accident
- Cyber liability - Covers liability if a data breach occurs and a customer's personal information is stolen or exposed
- Disability - Pays overhead expenses if the business owner becomes disabled
- Business property insurance - Protects the property you own or lease, including equipment, inventory, fixtures, furniture, machinery, and more
- Professional liability - Also referred to as Errors and Omission Insurance, this covers legal fees whenever a customer claims a job you performed was inadequate, faulty, or not completed on time
What Types of Office Insurance Coverages are Most Important?
Injuries, lawsuits, and accidents can expose your business to risks. While the types of risks you could face pertain to the specific industry you're working in, having fundamental coverages in place such as general liability and property insurance is optimal. This is especially important for start-up businesses. However, as you continue to grow your company, you should add additional protection to cover your business, such as professional liability, cyber liability, and more.
Where Can I Find More Information about Office Insurance?
It's important for business owners to partner with insurance professionals that are familiar with the challenges they face so the insurance can accurately assess insurance options for them. For instance, if you frequently work with subcontractors, it's imperative that your office insurance policy cover their work.
AmVenture provides small business owners with office insurance that can be tailored for your business. We know the courage it requires to begin and run a small business, and we're passionate about helping you succeed. Request a free quote today.