When insuring your business, there are many types of commercial insurance in the market to secure your business. From covering theft, employees, equipment, and company vehicles, each element of your business needs specific coverage. At Marla Williams Agency of Kansas, we understand businesses have different needs, so we have outlined the different types of commercial insurance.
General Liability Insurance
Most entrepreneurs that have just opened a business and are still starting to learn what risks their businesses are exposed to should consider this type of insurance. It covers many risks like bodily injury, property damage, and medical expenses. If your company is found liable for property damage or bodily injury to a third party on your premises, it can help cover the resulting damage.
Business Interruption Insurance
This type of commercial insurance covers the financial loss a business suffers when they have to shut down a business temporarily due to a disaster. For instance, a major power outbreak can impact your fridge and freezers, or a road repair can cut traffic access to your business, making it impossible for you to run the business for a few days. This insurance helps cover the lost income for the period business was interrupted.
Workers Compensation Insurance
This insurance helps protect both you and your employees in case your employee suffers a work-related injury. Workers’ compensation insurance helps cover medical expenses, including the cost of ongoing care if your employee needs it. Also, in an unfortunate event that your employee dies due to an injury related to work, this type of insurance covers the funeral expenses.
If you have a business dealing with a lot of customer data, then it is essential you protect your business and clients from data theft. If the data is breached, cyber liability offers you coverage if you are sued.
Whether you own a big or small business in Kansas, reach out to us at Marla Williams Agency. We will ensure you get an appropriate policy for your business.