THURSDAY, AUGUST 18, 2022
Operating a small business can be rewarding and exciting, but there may also be very little margin for error. Unforeseen circumstances and unfortunate accidents can have severe consequences for your small business’s financial well-being and future aspirations. Fortunately, a suitable insurance portfolio can provide security and peace of mind.
Using their seven locations across Ohio, the agents at ProtectALL Insurance are well equipped to help small businesses like yours acquire the right package of insurance coverages. 
What Insurance Coverages Do Small Businesses Need?
The insurance needs of small businesses may vary based on your industry and specific operations, but for almost all companies, several policies may prove to be invaluable investments. Consider the following coverages:
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Commercial property—This type of insurance provides financial assistance for losses or damages to your building, equipment, inventory, furniture and other property used to operate your business.
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General liability—If your business is found responsible for an incident, this coverage can help pay for resulting costs. In general, most general liability policies include the following protections:
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Premises liability can provide aid if a third-party, such as a customer or visitor, is injured on your premises.
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Products liability can protect you if your business’s products or services cause bodily injury or property damage.
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Personal injury protection may render assistance in response to allegations that you inflicted physical, financial or mental injury on a third party.
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Workers’ compensation—If an employee is injured on the job or develops a work-related illness, this type of coverage can help cover medical expenses, lost wages and lawsuits arising from the incident.
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Professional liability—This coverage, also known as errors and omissions insurance, can provide assistance if a client or customer claims that your business was negligent, provided inadequate services or committed an error.
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Employment practices liability—This insurance can cover legal costs and settlements if an employee alleges improper employment practices, such as discrimination, wrongful termination or sexual harassment.
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Cyber liability—If your business is targeted by a cyber attack, this coverage is critical to help you restore data and repair your systems. Cyber liability insurance may also be able to provide restitution to clients and third parties who were affected.
Although these types of insurance may cover many different risks that small businesses are likely to encounter, it’s important for you to thoroughly assess your company and its operations to determine the full extent of your specific insurance needs.
Get the Right Coverage
Growing and developing a small business comes with many risks and pitfalls. Given how thin the line may be between profit and deficit, even a single unfortunate event can have irreparable ramifications.
Contact the insurance experts at ProtectALL Insurance today to begin building an insurance portfolio and securing the future of your small business.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
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It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
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