Policies You Need To Protect Your Business

​Business or commercial insurance protects your activities and operations. It covers the same types of threats that homeowners commonly encounter. More so, it indemnifies financial losses experienced by business owners due to fraud. It will also secure the business from theft and any related crimes. Without business insurance, owners may be unable to operate in the foreseeable future. 
 
You have various policy types to choose from. Be protected against imminent threats in operation. Here are some of the policies you could buy as an owner:

Professional liability
Professional liability insurance protects owners against claims of negligence because of damages from failure to perform or mistakes. It is known as errors and omissions (E&O) insurance. Each business in an industry is unique. It has different concerns and situations to attend to. So, they could customize a policy addressing these concerns.
 
Compensation of workers
When workers' compensation is included in the business insurance policy. It protects owners from liabilities. Compensation coverage covers medical expenses and part of lost salary for workers. Yes, those who incurred injuries or sickness on the job. Additionally, it may also cover medical treatment and rehabilitation of employees.
 
Coverage for company vehicles 
When a business uses company vehicles, it is important to have them covered. It is to protect the business against liabilities if an accident happens. Business owners should include coverage for third-party injury. It's to avoid litigation costs and lawsuits.
 
Coverage for business interruption
AS disaster or catastrophic incident occurs, operations of the business likely get interrupted. Then, your business will incur lost profit due to your employees' inability to work in the office or manufacture goods. Hence, it compensates the business for its losses during such circumstances. This type of coverage is perfect for businesses with physical locations. 
 
Protection for property
As a business owner, make sure your business property is covered. The policy covers property structure and items as furniture and signages. It is protected when unfortunate events covered by the policy occurred. 
 
Conclusion
The highlight is that business insurance safeguards owners from incurring large losses. Hence, check with an insurer to determine what coverages your business needs. If you are a policyholder already, make sure to have adequate coverage. It is because your policy also needs to reflect changes that happened in your business.
 
At Hayek Insurance, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (805) 496-8835 or Click Here to request a free quote.