Who Needs Business Insurance?

Who Needs Business Insurance?

Are you wondering if you need insurance for a small business? In short: you do! While most types of business insurance are optional (and some are only needed depending on the type of business that you own), a few basic plans are highly recommended.Regardless of your business size or years in operation, basic insurance is necessary. However, choosing the right business or commercial insurance plan for your business can be very confusing.  We will tell you the basics in this article. We have also designed several different options and programs to meet the needs of our commercial insurance clients in the Spring area and throughout the state of Texas.

Regardless of your business size or years in operation, insurance is necessary. Choosing the right business or commercial insurance plan for your business, though, can be very confusing.  So, we will tell you the basics in this article. We have also designed several different options and programs to meet the needs of our commercial insurance clients in the Spring area and throughout the state of Texas, and would be happy to discuss them with you in person, through chat, or on the phone! Reach out to a S.I.G. agent today.

business insurance liability - stone insurance groupBasic Business Insurance

  • General liability insurance – Small businesses need general liability insurance. It’s a basic liability protection that guards against things like accidents, injuries, property damage and lawsuits.
  • Commercial auto insurance – If you use vehicles for work, you’ll need commercial auto insurance to be fully covered. Personal policies don’t usually cover work related incidents.

Additional Options for Growing Businessesbusiness insurance building - stone insurance group

  • Property – This can protect your commercial buildings and most of your personal property. Both of which are not covered by liability insurance. Liability normally covers other people’s assets, not yours.
  • Business income interruption – If your policy includes coverage for property, you also have protection from business interruption; if you have a property claim that prevents you from operating your business, business income interruption coverage could help pay you for your lost income, employee salaries and rent expenses.
  • Professional liability – Do you give professional advice or provide a professional service? If so, you should probably carry professional liability insurance.

cost of business insurance - stone insurance groupHow Much Does Business Insurance Cost

That’s a tricky question! Various factors affect the cost of your business insurance, so contact us directly for the most accurate quote. Factors that affect the cost of your are:

  • Your business type
  • Your location
  • How many years you’ve been in business
  • The number of employees you have
  • The amount of coverage you need

 

At Stone Insurance Group, we can design a specialized package according to your property, liability, and casualty needs. We are also proactive in identifying any factors that may increase your premiums or change your risk, and provide consulting and risk management options to protect your business.

Whether you are a retailer, wholesaler, contractor, or electrician, we can tailor a package to meet your specific needs and requirements. Visit our business insurance page to see some of our commercial plan options, or contact us directly to discuss exactly what your company needs.