Many individuals approach us at Brent Young Agency LLC seeking to insure their new small businesses. Every small business is unique and has specific insurance needs. If you’re a business owner in Manchester, CT, you’ll want to ensure that you’re adequately covered with a policy that protects you from the various potential daily mishaps. Here are three different types of commercial insurance to consider for your small business.
1. General Liability Insurance
General liability insurance is essential if you have a physical location where customers visit. It protects you if someone slips and falls, or injures themselves in any way, while they are on your property. While it’s not legally required, it would be a significant oversight not to have it for your small business. Small businesses often operate on tight margins, meaning a lawsuit from a customer could sink your company if you’re not prepared.
2. Business Income Insurance
Small businesses often lack the financial safety net that larger corporations have. This is why they need to protect themselves in the event of a disaster, as they may be unable to run their business for some time. The best way to protect your company’s income if something terrible happens is with business income insurance. This policy add-on will pay out the income you would have made while your company is not operating.
3. Data Breach Insurance
Digital crime and fraud are on the rise. In many cases, data is the most valuable asset that a small business has. Data breach insurance protects you against the costs associated with recovering from a hacking incident. This includes the cost of restoring your system security, notifying customers, and any legal fees that may be incurred. If your company operates digitally, data breach insurance is a must.
At Brent Young Agency LLC, we have provided Manchester, CT residents with a variety of commercial insurance services for years. If you want to learn more about how we can help you, contact us today.
