As a small business owner, you wear many hats. In one day you go from boss to salesperson, to accountant, to janitor, and more. When you are just starting out, the weight of being in so many roles can feel heavy, and the to-do list can feel endless.
Well, today, let’s cross one thing off your to-do list, that will give you a lot of peace of mind moving forward.
We know, you have probably been procrastinating this step, as the world of business insurance can feel overwhelming. That’s why we want to break it down for you here and help you make the best decision to protect your small business and hard work.
What Insurance Does Your Small Business Need?
No matter who you talk to, you will likely first be recommended commercial general liability insurance. This is the base of most small business insurance policies. General Liability Insurance protects you and your business when you are liable for physical injury or property damage resulting from your business operations. This includes the notorious “slip-and-fall.” It will also pay for legal fees and medical bills related to injuries while covering any accidental damage on a rental property.
Let’s say you are an HVAC technician and while working inside of a home, you made a tactical error and accidentally started a fire in the furnace, and the fire caused $25,000 in damage to part of the house. This would be covered under your General Liability Property Damage. An example of Personal Injury being covered under your General Liability Insurance would be you (a Landscaper) were mowing a client’s grass on a riding mower, the blades hit a rock and that rock propelled out and struck your client as he was getting out of his car causing him to get stitches at the emergency room. His medical bills would be covered under the Personal Injury portion of your General Liability Insurance policy.
Commercial General Liability insurance is a good place to start for all small businesses. From there you can customize your policy due to the specifics of your business.
Do you own a business property? Commercial Property insurance will be needed.
Are you managing a team of employees? Workman’s Compensation insurance would be a good option.
Do you have a website or keep digital financial records? Cyber liability insurance can help keep your business data safe
Do you have company vehicles? Commercial Auto Insurance is a must.
Bundling Business Insurance in Springfield Ohio
Working with a Link-Hellmuth Insurance Agent will help you customize your business Insurance in Springfield, Ohio. A Business Owners Policy, or BOP, is a simple combination of Business Property Insurance and General Liability Insurance under one single policy designed specifically for small business owners. If your business has an actual location that you work out of, then a BOP is a great fit for you.
You will also have the option to customize your business insurance bundle with any other policies that are applicable to your business operations.
Our team is here to make this to-do on your list a little easier. Contact our team to get the best coverage for your business at a great price!