Business owners, do you need business liability insurance?
Small business owners know that insurance protects their business, employees, as well as offering peace of mind that you can’t buy (but can and do.) While this is all well and good, sometimes, there are financial barriers, lack of time, and life that gets in the way of following through on checked boxes and the signed bottom line.
As a business owner, if you have reached certain milestones, it could be time to get a business liability insurance policy in place! Here are just a few:
You lease a commercial space.
While you may love your new office space, you may not have realized that any space open to the public is also an open door for risks. From customers slipping on a freshly mopped floor to accidentally dropping a client’s smartphone, a lawsuit could quickly land on your doorstep. General liability can help pay for damages, such as medical expenses and repairs so that it doesn’t come out of your pocket.
You hire an employee.
You need employees to run your business, but your business takes on a lot of responsibility when you hire a team. You’re liable for their on-the-job injuries. Workers’ compensation insurance steps in to help with medical bills, replacement wages, and disability and death benefits.
You have a website.
While it’s great to have a website in which you blog, update clients, and offer your products, it can come back to bite you. If you post a copyrighted image on your site, you could be sued for copyright infringement. If a user thinks your website falsely advertises products, you could end up with a lawsuit for that, too. General liability insurance can cover lawsuits over advertising injuries.
Check out other insurances that you may need for your business. Get started on securing the right insurance policies for your business today! Contact the professionals at Insurance and Mortgage Services to talk to one of our expert agents who will match your company with the right protection.