As a business owner, insurance is simply part of doing business. But do you have enough? Adequate business insurance is there to help minimize your risk in the rare event you are sued. Insurances also protect your business and its employees in the event of an accident.
If your business is sued for whatever reason, any liabilities you are responsible to pay must come out of your pocket. This is where the right business insurance can help to protect you, your livelihood,and your family. Typical business insurance policies will include:
Home-Based Businesses
If you operate a home based business, your homeowners insurance policy will cover some of the damages which could be caused. It’s important to look through your policy and consult with an experienced Maryland insurance agency to determine if you have enough insurance to also operate a home-based business.
Product Liability Insurance
If you own a restaurant, retail store, or you make your own products you should probably have some form of product liability insurance. What this insurance does is protect you in the event someone is injured by the normal use of your product. If your product or business is particularly hazardous, you may need more of this insurance—so be sure you have enough!
General Liability Insurance
This type of insurance will cover a wide array of situations. For this reason, it’s one of the most common Maryland business insurance types. General liability insurance will cover many aspects of running a business such as property damage, personal injury, medical expenses, or court costs.
Commercial Property Insurance
In the event of a fire or flood, will your insurance policy cover replacing all of your commercial equipment? In these instances, a commercial property insurance company will step in and help you get your business back up and running.
Why Consult With a Local Insurance Agency
When we ask the question “does your business have enough insurance” it’s because we’ve worked with many businesses who thought they were covered by a certain policy and were not. It’s important you contact an independent insurance agent in Maryland and let them compare insurance policies between all the major carries. As an independent agent, they’re not tied to any one company and as such can get you the best possible policy for the best price.
For more information on business insurance, or to consult with a local independent insurance agent and see if your business has enough insurance, get in touch with Freedom Insurance Agency today. Here at Freedom Insurance Agency, we are an independent Maryland insurance agent who can get you the best insurance for your business needs.
