5 Insurance Policies All Small Business Owners Should Have

Just because a business might be small doesn’t mean it’s immune to massive lawsuits; protect your business with small business insurance in MA.

Small businesses are often limited on resources and usually can’t handle the financial nightmare of a big lawsuit or natural disaster. To be covered against these kinds of risks, they need the right business insurance policy. Whether their small business is new or old, here are five insurance policies all small business owners should have when considering small business insurance in MA.

  1. Property Insurance: If you own the building where your business resides or have personal property like office equipment, computers, or tools, you should consider purchasing a policy that will protect you if you have a fire, theft, smoke damage, etc.
  2. General Liability Insurance: Every business, even if it’s home-based–needs to have liability insurance. Liability insurance protects you from both defense and damages if you, your employees, or your product/service causes or is alleged to have caused property damage or bodily injury.
  3. Business Owner’s Policy (BOP): BOPs bundle liability, property insurance, vehicle coverage, and crime insurance all under one policy giving you one premium at a discounted rate.
  4. Commercial Auto Insurance: Your personal auto insurance policy won’t cover collisions when you’re driving for a business-related matter, nor will your employees’. For example, if you or your employees are driving to a meeting using your personal cars and one of you gets into an accident, your personal auto insurance is void during this time. A commercial auto insurance policy covers your business vehicles.
  5. Workers’ Compensation: If employees are to become injured or ill in the workplace, this insurance provides coverage for their medical bills, disability compensation, and more. The employee usually loses the right to sue in exchange for these benefits.

At PMC Insurance Group, we’re experts on small business insurance in MA and can help you put the proper policies in place. To learn more about getting competitive coverage for your small business clients, contact us today.