To be in business today, every small business owner needs to protect his or her investment with the right business insurance. This involves more than simply carrying business property insurance on a building. For the best protection against common risks, there are three types of insurance that every small business needs: property, liability, and business interruption insurance. With these three essential types of insurance, even a small company can survive in the event of a loss, and continue to remain in business tomorrow.

Business Property Insurance

As the name suggests, business property insurance protects the physical property owned by a business; including buildings, equipment, inventory, and other physical items. Business property insurance, which is also called contents insurance, allows a business to repair or replace damage in and around the business property, including damage caused by disaster, vandalism, theft, and other perils. If the building is also owned by the business, it is important to carry enough insurance to cover the cost of the building as well as its contents.

Business Liability Insurance

Other than property insurance, one of the most important types of coverage a business needs is commercial general liability (CGL) insurance to pay for certain types of claims  that may be filed against the company. CGL insurance covers a business for liability issues for everything from a person being injured on business property after slipping and falling, to the business being sued for damages caused by an employee, product, or something else related to the business. Any accident or mistake made by a business or its employees can result in a damage claim against that business. So having adequate commercial general liability coverage is essential. Without a sufficient amount of this type of insurance, a small business owner runs the risk of losing their company should the business have a serious claim be filed.

Business Interruption Insurance

Another substantial risk that many business owners often do not consider is the loss that can occur when business production is interrupted. When a business suffers a loss such as damage to their building or equipment that prevents the business from operating as usual, this type of business insurance coverage is critical. Business interruption insurance pays for things such as lost income, cost of relocating to a temporary location, equipment rental, and any other expenses the business may experience wile getting back on their feet.

Doing business can be challenging enough without having to deal with the day-to-day risks that may occur. To protect a small business from a variety of damages and unexpected expenses associated with them, a business owner needs more than business property insurance. Business insurance that includes property, liability, and business interruption coverage can ensure that a small business can get past the unexpected hurdles that happen and continue to conduct their business as usual!

Need Business Property Insurance In Bryan TX?

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