Small businesses have different risks and needs than large businesses. Most small businesses need some type of commercial insurance. At Alliance Insurance Services, we help small business owners in Arvada, CO by providing the insurance coverage they need.
Liability Insurance for Small Businesses
General liability insurance is recommended for most businesses. This gives you financial protection from many types of liability, including medical expenses, property damage, and legal costs of defending yourself against a claim. It doesn’t cover liability that occurs as a direct result of your business operations. Doctors, lawyers, and financial advisors are a few examples of businesses that need professional liability. If a mistake in your work could cost a client or customer, you may need this coverage. Product liability insurance provides coverage for your products.If you manufacture a product and it causes an injury, this will cover your liability.
Commercial property insurance is recommended if you own a physical place of business. This includes stores, manufacturing facilities, and office buildings. It covers the structure itself, as well as your equipment and inventory. If you have a home-based business, you may be able to add a rider to your homeowner’s policy to cover your business equipment and inventory. This can add extra liability protection as well.
Business Interruption Insurance
Business interruption insurance can replace your income if your business is shut down temporarily. The most common scenario is physical damage to your place of business, but other situations may be covered in your policy as well. Small businesses often operate on a thin profit margin. A few weeks without income can put your business in jeopardy. Business interruption insurance provides money for expenses until you are up and running again.
If you are a small business owner in Arvada, CO, contact us at Alliance Insurance Services. Our agents will speak with you about your business needs and help you select policies that provide the needed protection.