Top Small Business Insurance Questions 

Small business insurance offers crucial financial protection against a spectrum of potential risks. However, obtaining business insurance can be an overwhelming process.

Small businesses may have questions about the types of coverage they need and the financial protections these coverages offer.

To shed light on this topic, let’s answer some of the top small business insurance questions.

What Does General Liability Insurance Cover?

General liability insurance offers financial protection against third-party claims that may arise from your business operations. It may include the following coverage:

• Bodily injury and property damage—If someone is injured on your business premises or if your operations cause damage to someone else’s property, general liability insurance can help pay medical expenses, legal costs and settlements.
• Personal and advertising injury—This coverage may protect you against claims related to defamation, libel, slander or copyright infringement.
• Medical payments—General liability insurance can help cover medical expenses for injuries sustained by third parties on your premises, even if you’re not legally liable.

How Much Does Small Business Insurance Cost?

The following key factors can influence the cost of business insurance:

• Type of business
• Size of business
• Location
• Coverage limits and deductibles
• Claims history
• Industry risks
• Business safety measures
• Business assets
• Professional experience

What Is Workers’ Compensation?

Workers’ compensation insurance is a policy that offers financial and medical benefits to employees who are injured or fall ill while on the job. Most employers are legally required to provide workers’ compensation insurance to their employees. Unlike unemployment benefits or disability insurance, workers’ compensation specifically addresses work-related injuries and illnesses.

When Do I Need Workers’ Compensation?

In many cases, employers are legally required to carry workers’ compensation insurance. Regardless of legal obligation, an adequate workers’ compensation insurance policy should be considered. Without sufficient coverage, employees could lack the means to recover from injuries and illnesses, and employers could face devastating financial losses.

Where Can I Get Business Insurance?

If you need business insurance solutions, we’re here to help. Call Muzio & Rovero Insurance Services today to get started. We can answer any further questions you may have about small business insurance.

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.