Small Business Insurance Quote Forms
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Small Business Insurance Information
Small business insurance is essential for financially protecting smaller enterprises. For entrepreneurs, their business is often the culmination of hard work, dedication and financial investment. Unfortunately, unforeseen events such as accidents, legal disputes or natural disasters can jeopardize all they have built. That’s where business insurance comes in. With the right coverage, a small business can confidently navigate challenges, recover from setbacks and operate smoothly.
Do Small Businesses Need Insurance?
Most businesses, no matter their size, need a business insurance policy. Business insurance policies comprise multiple coverage offerings that can help manage a company’s risks. Insurance providers agree to help reimburse the costs of covered losses up to the specified policy limits when a business owner pays a premium for a business insurance policy. Without such coverage, business owners would have to pay for these costs out of pocket.
What Does Small Business Insurance Cover?
Insurance needs can vary, but most businesses need a minimum of the following three types of coverage:
- Commercial property insurance may help compensate a business if its property gets damaged due to covered incidents (e.g., fires, theft, vandalism or severe weather). It may include coverage for the business’s physical structure, furniture, inventory, raw materials, machinery, computers and other items critical to normal operations.
- General liability insurance may help pay for losses and/or medical bills if a business or its employees cause property damage, bodily harm, or personal or advertising injury to a third party. It also often covers legal expenses stemming from third-party liability claims.
- Workers’ compensation insurance may help provide wage replacement and medical benefits to employees injured or ill due to work-related incidents.
Smaller businesses may be eligible for a business owners policy (BOP), combining some of the above policies into one convenient package. The suitability of a BOP may vary based on a business’s specific characteristics and risk profile. Businesses can speak with James V Funaro Agency to determine whether a BOP suits their operations and exposures.
How to Get Small Business Insurance
Whether owning a startup or an established enterprise, having the right insurance coverage can provide the peace of mind and security needed to navigate the unpredictable business landscape. Contact James V. Funaro Agency today to discuss business insurance needs. We are proud to serve Bethpage, Levittown and many other communities in New York.