28 Mar 2019
Insuring Your Start-Up Business

The business insurance your start-up needs. 

Launching and operating a start-up business takes a considerable amount of time, effort, and money.  With everything that’s gone into your business, it’s important that you secure the right commercial insurance to protect your investment.  Here are some of the essential types of coverage your small business needs.

1) Commercial Property Insurance

Commercial property insurance covers physical damages or losses caused by theft, vandalism, fire, or extreme weather events.  This coverage normally extends to the buildings, supplies, equipment, and inventory that your business owns.  In some cases, commercial property insurance will even cover your business’s important files and documents.

2) Commercial General Liability Insurance

If your business is ever found liable for causing bodily injury, personal injury, or property damage to another party, then commercial general liability insurance will cover their medical costs, repairs, or replacements.  If such claims turn into a lawsuit, then this type of insurance will provide coverage for your business’s legal and settlement fees.

3) Workers Compensation Insurance

Finally, any business that has employees needs to have some form of workers compensation insurance.  Workers compensation provides coverage if an employee is injured or becomes sick while on the job.  This type of insurance will cover the medical costs, rehabilitation expenses, and lost wages of an injured employee.  However, workers comp isn’t just helpful for employees.  Should an injured employee decide to sue your company, then workers comp will cover the costs of your legal defense.

These are some of the essential insurance policies that your start-up business needs.  Are you looking to secure the right coverages for your business?  If so, then contact the team at Patterson & Associates in Richardson, Texas.  We are ready to assist you with all your business insurance needs today.