New business owners often have a hard time figuring out what insurance coverages they need to operate their business. While the specifics will vary by industry, the coverage basics are likely to be the same for everyone. A good Delaware business insurance agent should be able to help you get the coverage you need to best protect your business against risks. In the meantime, here are two coverage options that you should plan to include in your new policy.
Commercial Property Insurance
As the name implies, property insurance covers your business in case your property is damaged or lost. Most policies will cover your building, furniture, equipment and electronic data, and will pay for repairs or replacements for incidents such as fires, storms, theft and vandalism. There are even policies that will reimburse you for revenue lost during the time your property was unavailable.
General Liability Insurance
General liability insurance protects your business in case a non-employee experiences bodily injury or property damage because of your business activities. Even in cases where you don’t feel at fault, such as a customer falling on your property, your policy will pay for any attorneys’ fees, settlements and judgments.
There are many other types of insurance coverages available for your business. Work with an experienced Delaware business insurance agent who can help you get the right mix of coverage that’s appropriate for you.