Delaware Small Business Insurance

From the first minute your small business opens, you run the risk of a costly accident or litigation bringing your hard work to a premature stop. Those risks include: a customer injuring themselves on your property, a fire destroying valuable equipment, an employee being injured on the job, and much more. In each of these cases, the cost of litigation or property repair could be astronomically high--to the point that your business may not be able to recover. That is why you need to talk to AmVenture about how to protect against these risks and help ensure you're covered in case the unexpected happens.

What Insurance Do You Need in Delaware?

• Workers' Compensation: With very few exceptions, almost every small business owner in Delaware must carry workers' compensation insurance for its employees. Workers' comp insurance ensures any of your employees who are injured or fall ill on the job are covered for their medical expenses, lost income, and more. Without workers' comp insurance, those injured employees may be forced to file a claim against your business. Having workers' compensation insurance means that your business cannot be held liable for many work-related injuries and illnesses.
• Commercial General Liability: Although technically not required by law, every small business owner should consider commercial general liability insurance to be a must-have. This insurance product protects your business in the event of a claim brought against you by a third-party. For example, if a customer slips and falls on your property due to ice or rainwater and files a claim, this insurance policy is designed to cover your business for a portion of the costs.
• Property Damage: Again, while property damage insurance is technically not required by law, no responsible business owner would allow their business property to go uninsured. The risks from fires, vandalism, and theft are serious and they need to be protected against.

Also note that you can usually combine Commercial General Liability and Property Damage into a Businessowners Policy (BOP), along with other insurance options, such as Business Interruption coverage.

• Commercial Auto: If you use any vehicle for business purposes, even if it is also a personal vehicle, then you need commercial auto insurance. Commercial auto insurance works similarly to personal auto insurance: if you or one of your employees are involved in a crash, then you will be protected for the cost of damage or injuries to any third party. Commercial auto insurance also covers business-specific risks, such as injuries that occur while loading and unloading supplies.

Optional Insurance for Extra Protection

Depending on your risk exposure, you may also need to consider adding other insurance coverage lines to protect your small business. Optional insurance coverage may include but is not limited to:

• Cyber Liability
• Errors & Omissions (E&O)
• Employment Practices Liability (EPLI)
• Disability
• Contractors' Equipment

How Do I Get Small Business Insurance?

Your small business deserves the most comprehensive protection possible. With AmVenture, you can be assured that many of the risks that business owners commonly face won't end up threatening your enterprise. Get in touch with us today and one of our representatives will show you how our bespoke insurance solutions can help your business continue to thrive.