It’s a question many business owners ask when disaster strikes. Whether it’s a tornado, a fire, or a break-in with vandalism, everyone asks, “Am I covered for this?” Each business owner needs to know about business owners policy coverages and what options are available. A cookie cutter one-size-fits-all policy may not provide the protection your industry needs.

Have You Got My Back?

Companies worry about lawsuits, as well they should. We live in a litigious society. Liability coverage is a crucial component of your business insurance portfolio. It should accommodate the risks and exposure specific to your industry. Types of liability coverage include:

• Professional Liability, or errors and omissions insurance
• Employment practices liability insurance
• Product liability insurance
• General liability insurance
• Umbrella policy

Can I Rebuild?

Business owners policy coverages should always protect your physical property as well. Buildings, exteriors, signage, furniture, and equipment fall under property insurance. Purchase policies that cover the loss of or damage to property in the event of natural disasters and crime. Business interruption insurance is another option that offers great benefits. If your business has to shut down for repairs, supply-chain default, or work stoppages, business interruption insurance covers expenses such as utility bills and payroll.

Research the various insurance choices carefully and understand your company’s needs to ensure you’re protected when you need it most.