While getting insurance can be both a nuisance and a minefield, having no insurance, or worse, getting the wrong coverage can cripple your company.
For most businesses, even the brand new ones, business insurance should be considered as essential to their survival as basic utilities and a steady stream of customers. Some types of insurance are required by law, while others are just smart for your business' protection.
To make sense of the nonsensical insurance terms, here are the top coverages that your startup needs.
General liability insurance - This provides financial protection for your business in the event of lawsuits and claims. These may arise as the result of injuries or property damage connected with your business, or even non-physical acts like slander or libel.
Cyber insurance - Cyber coverage protects your business against data breaches, information leaks, and hackings that occur within your company.
Property insurance - If you conduct business from a building - which is more likely than not - you'll need this coverage to protect your property from fire, wind storms, hail storms, and vandalism.
Business Owner's Policy - This cover is the best of both worlds! A BOP bundles general liability and commercial property coverages, along with generally being the most affordable choice.
Directors and officers insurance - These policies protect officers and directors from claims alleging they made wrongful business decisions that negatively impacted the value of the company, the value of the stock, or diluted the company assets.
Employment liability insurance - Otherwise known as workers' compensation, this coverage is helpful for companies that employ highly skilled and highly sought after technology and skilled labor employees.
Are you ready to secure the business insurance needed for your startup? Contact Jack Stone Insurance Agency, serving Antioch and neighboring cities in California with reliable business coverage!
