Last time out, we began discussing the types of insurance that small businesses could invest in. Did you know that there are even more kinds of insurance to choose from? It’s true! Let’s read on to find out more!
Property insurance is immensely important. Even if your office space is currently closed and your employees cannot gather in one centralized location, you can’t abandon your small business property entirely. That’s why you need to invest in property insurance. Physical disasters such as fires, theft, and vandalism are all covered. Furniture, inventory, and technology are also covered, surprisingly enough. The insurance will also pay for restoration and repair costs. Business interruption is another option that you may not have heard of before but is definitely something worth looking into, especially as you try to get your company back up and running.
Commercial Auto Insurance
Even small businesses can maintain a fleet of company-branded vehicles. Business auto insurance could be mandated, depending on the state in which you live. Damages and injuries will be covered by applicable liability, which is why this policy is so important to have. Traditional policies combine liability and property coverages that apply to all vehicles owned and operated by a specific business. Meanwhile, hired and non-owned auto insurance policies are similar but slightly different all at the same time. This policy is more applicable to employees who drive their own vehicles for work purposes – either a personal vehicle or one that is rented under their own names and not on the company’s behalf.
Commercial Umbrella Insurance
Umbrella insurance provides an extra layer of protection beyond basic liability coverage. It can cover the remaining amounts left over after the liability has been maxed out. Other types of liability and small business insurance can benefit from being packaged with this type of insurance. If you are afraid that your small business could be subject to major suits or losses, then this is a worthwhile investment.
Business Owner’s Policy
The final piece of advice we have for you is to consider purchasing what is called a business owner’s policy. It’s a bundle, which is a cost-effective path for smaller businesses to take since they don’t have as many resources as their larger competitors do. Property and liability risks are covered, as are general liability and professional liability.
A Customer Testimonial
We have a testimonial from a recent pleased customer. Our own William Fedo assisted Ann of BD Health Services. William helped Ann with an insurance claim relating to a car accident. Both William and Scott went above and beyond to help Ann and her family address concerns associated with their bills and put her mind at ease.
Get Your Voluntary and Supplemental Insurance Policies with the MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet the needs of all your employees. With over 17 years of experience, The MWE Partnerships is your one-stop-shop for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, then contact us today! Also, be sure to like our Facebook page and follow us on Twitter and LinkedIn for all the latest voluntary benefit news!