Business Insurance 101: Four Insurances Every Business Should Have

Running a business means taking on some risks, but proper insurance coverage prevents catastrophes. Find out which types of insurance you need to protect yourself as a business owner.

Worker’s Compensation

Even if you only employ a single worker, you need worker’s compensation insurance to pay for their medical bills in case of an emergency. Don’t let your dedicated employee end up suing you after an injury on the job.

Liability

This branch of insurance pays for injuries and accidents that leave visitors incapacitated. You never know when a slippery floor leaves a customer aching.

Property Protection

How will you afford a brand new roof when your building has a tree tossed through it? Property protection insurance pays for damage to structures used by your business. This can include vehicles as well if you maintain a fleet.

Umbrella Coverage

Finally, consider a secondary umbrella insurance policy to cover up any gaps in protection. For example, you can take out additional liability protection in case of a major accident with a client.

If business insurance is still confusing you, contact North Central Insurance of Minnesota.