As a small business owner in the Amityville, NY area, it is critical to have a comprehensive insurance program to protect your business. The agents at Acme Insurance Brokerage have put together a list of important coverages for businesses to consider.
General Liability Insurance
A general liability policy is essential for all small businesses. It will protect you in the event a third party sues you for damages. A liability policy is critical if your business operates at a location where clients are on site. If a client slips and falls while on your business premises, you will be protected in the event of a lawsuit.
If the nature of your business is to sell products, it is critical to consider a product liability policy. Even if your product seems harmless, you will be protected in a lawsuit if a third party claims your product has caused harm.
Professional liability policy
Unlike a business that needs product liability, if your business provides a service, you should consider a professional liability policy (also called an E&O policy). An E&O policy will provide you with protection if you fail to provide the service or make an error while providing the service to a client and that client suffers a financial loss as a result.
The state may very well require workers’ compensation if you have enough employees. However, even if it is not required, you may want to consider it if you have employees. In the event an employee is injured while working, a workers’ compensation policy will help cover the medical bills and lost wages.
If you would like to learn more about the insurance policies available to protect your business, reach out to an agent at the Acme Insurance Brokerage today. We proudly serve the Amityville, NY area.