Owning a small business alone or with partners can be an exciting, rewarding prospect. Unlike larger companies, funds are often limited, even if your company or brand is growing. With all of the hard work you've put into building your company, giving yourself proper protection only makes sense. With small business insurance through AmVenture, you can safeguard your company from financial hardship in the event that something goes wrong with an employee, customer or your property.
What Does Small Business Insurance Include?
Small business insurance is essential to protect your company from financial hardship related to loss of revenue, property damage, customer claims, and employee claims. Through AmVenture, you can tailor your insurance policy to make sure you're covered even in the worst possible situations.
Workers' Compensation Insurance
Workers' comp insurance is required in the state of North Carolina for most businesses that have more than three employees. Designed to cover medical bills, disability coverage and claims against your company, workers' compensation insurance can help you avoid a huge financial hit if an employee gets injured on the job.
Coverage for Your Commercial Property
Commercial real estate, the goods you sell, and the business tools you use each day can be costly. If your property or possessions are damaged, you may be forced to shut down without help. Coverage for commercial property can help you stay on your feet in the event of a natural disaster, vandalism, or other major catastrophes.
Protection Against Customer Claims
Whether you work with the public or other small businesses, customers can always make claims that they were injured on your property or did not get the goods or services paid for. Having protection against these claims in the form of general liability and professional liability insurance is a must.
Businessowner's Policies for Small Business
For many small businesses in the state of North Carolina, a BOP or businessowners policy is an ideal solution. These are tailored to meet the needs of most low-risk small businesses who have limited numbers of employees.
Within a standard North Carolina BOP you'll get:
- Premises liability coverage, which covers you in the event of an accident or injury to a customer on your property.
- Protection against customer injuries that occur in your retail or business space.
- Protection for your property including goods and real estate related to your business.
Some BOP policies also include professional liability insurance. This coverage protects your company in the case of potential professional negligence. This can help you avoid paying a customer or other business for mistakes that may interfere with their use or potential profits related to your goods or services.
Standard BOP policies work for many small business owners, but other companies need specific, targeted insurance policies that cater to their company and business sector. Let AmVenture help you find the right policy and protection for your small business. Whatever you do, AmVenture can help you stay protected.