Protecting your online investment.
Many start-ups and entrepreneurs are unsure about whether they need insurance for their small endeavor, and if they do, what sort. It’s a good question that comes up time and time again. No business is exempt from risk – no matter how new or small it may be. Whether your online business sells goods or offers online services, you still need to have at least a minimal amount of commercial insurance for protection from unforeseen circumstances and events.
General liability is the most basic type of coverage available for small business insurance. Your business is liable for any accidents that occur on the premises, whether your business is located in your home or in a warehouse. If someone is injured or their property is damaged on your premises, this coverage will help to pay for expenses and legal representation.
Business Owners Insurance
A business owners policy (a BOP) is a good place to start when searching for business insurance for your online company. It protects your business’s assets, both tangible and intangible. As the owner of the business, you can tailor this policy to meet your exact needs, such as protection to include your building, the contents, valuable papers, business income, interruption, electronic data, and employee dishonesty.
Your online business may be small, but the risk it faces is great. Umbrella insurance can be added on to your insurance policy to protect your business assets and investments in case there is a catastrophic suit that could wipe out the business. Check out if your small business could benefit from an umbrella policy.