As a small business owner, you need to have insurance to cover your assets and to protect you in case of an accident or liability. But what types of insurance policies do you need as a small company? Here are some of the more important business insurance Harrisburg PA policies you should look into for your company.
Property Insurance Policy
A property insurance policy is essential if your business has a building or if you have a lot of items that are expensive to replace. Property insurance is designed to cover the replacement cost of your inventory, your business supplies and office equipment that is used during the course of a business day. This can include any furniture that you use, computers, electronics and much more. Whether you work from home or in an office location, this type of policy covers these items in case of a fire, robbery, vandalism and in other situations. In some business insurance Harrisburg PA policies, there is even coverage for loss of earnings as the consequence of an interruption to your business if you are unable to operate while those items are being replaced.
Liability Insurance Policy
With many people looking for a quick payday, it’s important these days to have a general liability policy to cover your business. This type of policy helps defend you in case your products, services or employees cause damage to someone else, either physically or through property damage. Your policy will cover the cost – so if you get sued, your business or personal assets will not be at stake because the insurance will cover the damages.
Professional Liability Insurance Policy
This type of policy is much like a general liability policy, but it’s a little different. This covers you and your business in case you fail to render professional services or if you improperly provide them. This is generally used by professionals like accountants, consultants, lawyers and real estate agents, among others. If you make a mistake that causes financial damage or other types of problems for your clients, this policy helps cover you so you can protect your assets.
Homeowner’s or Renter’s Insurance
If you run your small business out of your home, it’s important to have a homeowners insurance Harrisburg PA policy. By having one of these policies (choose the one that applies to your particular situation), you can be sure your business equipment that is inside your home is protected against fire, vandalism and other disasters.