Small business owners are dedicated to their businesses, often putting much of their resources and time into making them work. Because of this, it is essential to have the right business insurance coverage. This way, you can stay protected against circumstances you did not see coming. That helps you be more prepared if disaster strikes and can ease the stresses from dealing with claims.
Muller Insurance is an independent insurance agency here for small business owners in New York, New Jersey, Connecticut, Maryland, and other states. Here, we provide a few insurance tips for small business insurance.
Get Coverage You Need
There are many kinds of insurance policies for small business owners – and each policy varies in what it covers. When exploring policies, it can be difficult to tell which ones can be most beneficial to your business. To start, you should consider what elements of your business need coverage.
Small business insurance can cover a wide range of items. For example, some insurance policies cover damages to appliances, furniture, and other structures. Other insurance policies cover your commercial property, including the exterior of your business, landscaping, and walkways. To determine what you need, it can help to speak with an independent insurance agent. That lets you clearly list the amenities of your business that you need to be covered, and insurance agents will work diligently to find plans and policies that accommodate your concerns.
Understand the Different Kinds of Insurance
When looking for small business insurance, you may come across a variety of policy types. While this can seem overwhelming, here is a rundown of the most common insurance policies for small businesses:
- General liability insurance: This policy covers finances you may lose due to injury, property damage, medical expenses, and more. All business owners should have some kind of general liability insurance.
- Home-based business insurance: This type of policy is ideal for those who run businesses out of their homes. That can include hobby businesses like knitted goods, woodworking, or others.
- Product liability insurance: This policy protects you if your product causes harm to customers.
- Commercial property insurance: This insurance is designed to cover your business’s property if a fire, vandalism, smoke, heavy wind, or hailstorms hit your space.
- Professional liability insurance: This type of insurance is ideal for businesses that provide services to customers. It protects against claims made regarding negligence and malpractice. This coverage would be subject to available markets.
- Business owner’s policy: This policy includes all common insurance coverage policies under one bundle.
If you decide you need more than one type of coverage for your business, many companies implement business umbrella insurance. Umbrella insurance is another type of coverage that allows you to receive multiple policies, further protecting you from unforeseen circumstances.
Browse Your Insurance Options
No insurance policy is created equal, meaning policies and coverage can change from company to company. While one insurance company may cover certain aspects of your small business, other policies may not. Additionally, insurance prices can vary depending on the coverage needed and the insurance company you go through. That makes it important to explore your options when it comes to insurance coverage.
One easy way to keep track of your options is by working with an independent insurance agent like Muller Insurance. We work with a variety of insurance companies to ensure each client receives the best possible coverage for their small business. The companies we work with for commercial insurance include:
Find an Independent Insurance Agent at Muller Insurance
The most surefire way to ensure you have the best coverage possible is by working with an independent insurance agent. They can access multiple policies at once, allowing you to see the differences in coverage and price more clearly. Insurance agents can also be a great resource for learning more about your policy in an easily digestible and understandable way. That can take much stress off business owners, and they can rest assured that they have the right small business insurance coverage.
Small business owners can rely on the agents at Muller Insurance for their insurance needs. Located in Hoboken, New Jersey, we serve businesses across New York, New Jersey, Connecticut, and Pennsylvania. To learn more about our business insurance offerings, call us at 201-659-2403 or request a quote.