Business owners throughout the state of New York likely know there are many risks facing their business on a daily basis. Because of this, taking the proper steps to cover and reduce this risk is important. One of the best ways this is done today is with commercial insurance. There are a lot of unique coverage options to consider when you are building a commercial insurance policy.
Business Interruption Insurance
There are situations when your business may need to shut down due to a covered event, which can include a fire or natural disaster. If this occurs, you will lose out on money needed to run your business. When you have business interruption insurance, it can help to compensate for revenue and income lost during this time.
Cyber Liability Insurance
All businesses today need to be aware of various cyber risks. If you are a victim of a cybercrime, it can damage your business reputation, lead to regulatory challenges, and even liability claims. When you have a cyber liability insurance plan, it will offer protection against these risks and can help cover many of these costs.
Errors and Omissions Insurance
If your business offers any form of support or advice to clients, having errors and omissions insurance is very important. If it is determined that you offered poor advice or omitted certain information, you could be held liable. An errors and omissions insurance plan will offer coverage in these situations.
Consult With Us
All New York business leaders will know that having insurance is very important. As there are a lot of options to consider today, calling our team with AW Burchell Agency Inc. can be helpful. Our team at AW Burchell Agency Inc. understands all commercial insurance options and will offer any support you need to build your next plan.
If you run a home business, protecting yourself, your employees, and your business with the right insurance policies is important. AW Burchell Agency Inc. is here to explain the insurance policies for home businesses in Pennsylvania and New York.
Types of Insurance For Your Home Business
General Liability Insurance
This policy covers legal responsibility for bodily injury and property damage caused by your business operations. It also covers personal injury like libel and slander. This policy can help pay for medical bills, court costs, settlements, and other damages related to lawsuits from injuries or damages caused by your business activities.
Property insurance is important for any home-based business owner because it helps cover losses due to theft, vandalism, fire, and other events that could cause damage to the building or its contents.
Workers’ Compensation Insurance
If you employ people in your home-based business, you must carry workers’ compensation insurance to protect you and them in case of an on-the-job injury or illness. This type of policy benefits an employee who is injured while performing duties related to their job at your place of business.
Business Interruption Insurance
Business interruption insurance helps protect businesses from potential income losses due to unexpected events such as fires or natural disasters that temporarily prevent operations from continuing as usual. Depending on the specifics of the policy, this coverage may pay out benefits based on fixed expenses (such as rent) plus estimated profits that were lost during the period when your operations were affected by the event.
Give Us A Call
Home businesses in Pennsylvania and New York require several types of specialized insurance policies to operate safely and securely. Contact AW Burchell Agency Inc. today, and we can help you get your business needs covered.