Essential Commercial Insurance Policies for Your New Business

Protect your company with the right commercial insurance.

If you have finally launched your own business, then you know how much time, effort, and money that you have invested.  Unfortunately, all businesses are exposed to risks and, if you are not careful, your company can take a fatal blow before it even has a chance to get off the ground.  This is why it’s so important to protect your company with the right commercial insurance.  Here are some of the essential forms of business insurance that you can’t afford to skip on.

  • Business Owner’s Policy (BOP)

BOPs are great options for small businesses because they combine general liability and commercial property insurance in a single, easy-to-manage policy.  BOPs offer coverage for third-party claims of bodily injury, third-party claims of property damage, product liability lawsuits, repair/replacement costs for business damage, and so on.  As an added bonus, many insurance providers offer business owners the opportunity to add additional coverages to their BOPs.

  • Professional Liability Insurance

Also known as errors and omissions insurance, this type of coverage is essential for businesses that provide professional services.  Professional liability policies offer financial protection in the event that your company is accused of making costly mistakes while rendering services.  This type of insurance is particularly important for architects, engineers, IT professionals, accountants, consultants, lawyers, medical professionals, and so on.

  • Cyber Liability Insurance

Today, most businesses have some type of digital element to their operations.  If your business collects, stores, or manages customer data or conducts business over the Internet, then you face the risk of cyberattack or data breach.  Cyber liability insurance is designed to cover the losses associated with a major cyberattack, including the cost of informing affected customers, restoring compromised information and identities, ongoing credit monitoring, repairing affected computer systems, and so on.

Protect your company with the right commercial insurance.  Do you need help securing coverage for your new business?  Then contact the experts at The Reardon Agency.  Our dedicated team is eager to get you the commercial coverages that you need today.

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