Business insurance can help you manage your company’s risks, giving you financial protection from losses that occur during regular business operations. Several coverage options are available to protect both your business and employees.

Our agents at Morgan Marrow Company are here to assist you with finding the best coverage possible for your business.

What Is Included in Business Insurance?

There are multiple different types of insurance you can have to protect your business, including:

• General liability insurance. This policy helps cover expenses and attorney fees resulting from injuries or property damage claims for which your business may be legally responsible. General liability insurance may cover costs if an injured third party sues your business. These insurance policies typically have four coverage elements:
  • Premises liability covers you if a person not employed at your business becomes injured on your property.
  • Products liability covers you if a product or service causes injury to someone’s body or inflicts damage on a consumer’s personal property.
  • A personal injury is when your business inflicts physical, financial or mental damage to a third party.
  • Advertisement injuries that result from alleged misinformation, copyright infringement or slander made by your business.
• Workers’ compensation helps cover medical bills or wage replacement for employees who experience a work-related injury.
• Commercial auto helps cover business-owned or -leased vehicles, as well as employees who drive company vehicles for business purposes. Commercial auto coverages may include liability, comprehensive, collision and hired and non-owned auto coverage.
• Commercial property insurance helps you if your business experiences a loss such as a fire, explosion, burst pipe, storm or theft. The insurance compensates you for losses or damage to your building, leased or owned equipment and other property on the premises.
• Employment practices liability insurance helps cover wrongful acts that occur during the employment process, such as claims of discrimination, wrongful termination, sexual harassment or retaliation. This coverage can also reimburse you for the costs of defending a lawsuit in court.
• Professional liability insurance, also known as errors and omissions (E&O) insurance, can help protect your business against claims that a service you provided caused a client to suffer due to a mistake or failure on your part.
• Cyber liability insurance can help protect your business from a cyber attack or interruption that can cause a loss in data, revenue or trust between you and your customers.

The best coverage options for your business will vary depending on the needs of your business and employees. If you are looking for coverage recommendations, connect with an agent.

Why Is Business Insurance Important?

Most states require that businesses have certain types of business insurance. These mandatory coverages vary, so you must check with your state’s requirements.

Beyond purchasing required insurance policies to satisfy compliance obligations, business insurance can help protect your business from significant financial consequences after a loss from a covered event. To learn more about business insurance, reach out to an agent.

Learn More About Business Insurance

Our agents at Morgan Marrow Company are ready to help you find the most comprehensive coverage for your business. Contact an agent today to get started.