How much commercial insurance does my business need? | UNIVISTA INSURANCE

How much commercial insurance does my business need?

How much commercial insurance does my business need? You’ve already found the location to open your business. You’ve invested time and energy analyzing every aspect of your venture. You’ve studied the market and have the money to make your dream a reality. However, please don’t overlook that any business will need insurance to protect its assets and the company itself. Some insurance may even be a legal requirement.
If you’re a new entrepreneur, you might wonder, “What types of insurance do I need?”
The reality is that multiple coverages can protect your company from the potential risks it will face. Among them is commercial property insurance, which covers damages caused by a covered incident, such as a fire. There’s also general liability insurance, which covers your company’s legal liability for damages it may cause to others—and business interruption insurance, which replaces lost business income during a covered interruption of your operations.
These three coverages encompass the typical risks affecting small businesses, so insurers offer them in a package called Business Owner’s Policies (BOP).
However, BOP only includes some possible insurances. Workers’ compensation insurance, which protects workers and is a legal requirement, isn’t included, nor is professional liability insurance, also known as errors and omissions insurance. As the name suggests, this insurance covers you for any mistakes you or your employees make that affect a client. Imagine if a dye from your salon causes a client to have an allergic reaction, irritates their scalp, and damages their hair.
Or if, while carrying a wedding cake, it falls to the ground just before the ceremony begins. On a Saturday at 7:00 in the evening. What a mistake!
Commercial auto insurance and cyber liability insurance are also not included.
In short, to achieve efficient and robust protection for your business without purchasing unnecessary coverages or falling short of what you need, it’s crucial to sit down with an experienced agent from Univista Insurance to ensure your investment is properly insured. How much commercial insurance does my business need?

Give us a call today for a full assessment! 305-728-2088. You can also get a free quote here.