When you own a business, there are many types of commercial insurance, and there are several likely types that are right for your business. Some types are required by law, and others are recommended types to keep your business protected. If you aren't sure which types of insurance you need for your specific business, contact us at ControlMyRate.com to find out more.
Most areas require businesses to have workers' compensation insurance, but a minimum number of employees is often given for the requirement. It's important to know whether your area requires this insurance and in just what amount. This coverage protects your company by paying for the medical bills and lost wages of employees who have an accident with injuries while at work. This leaves you less prone to lawsuits and able to get those medical bills and other expenses paid without affecting your business.
There are a lot of forms of liability, and every business is vulnerable to lawsuits for this reason. It's a good idea to have general liability insurance to cover many of the ways that you can be found liable. This is valuable coverage that can protect you and your business in several ways so that suits can be paid off as needed by the policy.
If you depend on computers to keep your business running, you may need cyber insurance to cover some of those risks. It's increasingly common to have hackers attack small businesses and delete or publish private data. Cyber insurance can help you keep your business running after a breach and help you get back to business.
If you run a business, you need various types of commercial insurance to help protect it. Call us at ControlMyRate.com for more information.