Small Business Insurance

5 Important Types of Insurance for Every Small Business Owner

Small Business Owner Holding Open SignGeneral Liability Insurance: In order to protect you and your company, it is crucial for every small business to have small business insurance or general liability insurance. With claims ranging from personal injury to property damage, your occupation is at stake without this.

Professional Liability Insurance: Not everything is covered under general liability insurance, and that’s where professional liability is needed. If you provide services, such as a lawyer, accountant, real estate agent, or hair salon, this policy will protect your business from any damages for services that may have gone awry.

Property Insurance: Overall, property insurance will protect your business from the elements, such as fire, weather damage, and even theft. But, with the ever expanding and unique businesses popping up in the Metro Detroit area today, the partners of E & Y Insurance have been working to make property insurance more catered to your needs. Coverage can range from a small boutique retail facility, to contractors specifically working on home renovation. It’s important to be specific!

Commercial Auto Insurance: This coverage will safeguard the vehicles used within your business that is not covered by a personal auto policy. Don’t just assume that your personal auto policy is the best option for your commercial vehicle. Commercial auto insurance is a necessity for small business owners that transport goods or people for a fee or service.

Affordable Insurance For Small Business OwnersWorkers Compensation Insurance: Accidents happen, and you’ll definitely want to be ready when they do. Worker’s compensation insurance provides coverage to any employees who are hurt or injured on the job. Wage replacement and medical benefits are a small price to pay in return for an employee waiving his or her right to sue.

BONUS

Business Owners Policy: This policy, often referred to as BOP, is catered to meet ALL of your small business needs. BOP will usually include property insurance, commercial auto insurance, liability insurance, and much more. The beauty of a BOP is that you can customize your policy to meet all your specific business wishes. This option has saved our customers money in the past, and we definitely advise all small business clients to look into this option!

Your business is unique, and your coverage should be the same. E & Y Insurance is prepared to cover any and everything you are looking for, in order to keep your small business safe, secure, and functional. Call us today, and we’ll help advise you down the right path for success! (248) 362-1313

 

 

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