As a small business owner in South Dakota, you've worked hard to build a company that will stand the test of time. But no matter how hard you work, there are still some things that are out of your control. Employees can get injured on the job. Customers can get hurt at your place of business and file a lawsuit. Disasters can destroy your property. Small business insurance coverage is a way to help protect your business from a variety of unexpected risks.
Common Types of Coverage for Small Businesses in South Dakota
Some of the most common options for small business insurance in South Dakota include the following policies:
- Businessowners Policy (BOP)
- Workers’ Compensation
- Commercial Auto
- Cyber Liability
At AmVenture, we are familiar with risks that are common to your industry, size, and location, and we know types of insurance that can help protect you against those risks. We tailor insurance options for small businesses, like yours, to provide policies and coverage limits so you can move forward with confidence.
Your Insurance Options through AmVenture
A businessowners policy (BOP) bundles some of the most popular forms of insurance coverage for small businesses into a single package. A BOP generally includes general liability insurance and property insurance. With a BOP in place, you can be protected from many of the costs related to claims by third parties, such as customer lawsuits, and you'll have coverage for the buildings you own and the property or equipment contained therein.
As careful as you are and as safely as your company may operate, accidents are always a possibility. If an employee is hurt or becomes ill due to the working environment, the most economical way for a business owner to handle these claims is usually through their workers’ comp policy - offering this type of coverage is also compulsory in South Dakota for most businesses with employees. Your workers’ compensation policy can help cover medical care and lost wages in the event of a workplace injury so your employees can recover and return to work as soon as possible. This policy will also help you pay for the costs associated with a workers' comp claim so you aren't liable for full payment out-of-pocket.
Many small businesses rely on company vehicles to get the job done. But an accident can leave a company vehicle in disrepair or result in costly lawsuits and medical bills. If your business owns, leases, or otherwise uses one or more vehicles used to conduct business operations, then a commercial auto policy can help protect you from the costs associated with a crash.
If a cyber criminal gains access to your company or customers' data, it can cause a considerable amount of damage to both your reputation and your bottom line. Should a customer file a lawsuit due to a data breach or cyber attack, a cyber liability policy can help protect your business financially, in addition to helping you pay to repair the costs of the breach itself.
How to Get Small Business Insurance in South Dakota
Learn more about the bespoke small business insurance solutions available to you through AmVenture. Contact us today, or fill out our simple online form to request your free quote.