If you are a small business owner, our team at Alexander Insurance would like to fill you in on the importance of having a small business insurance policy. Do you need it? Yes, most small businesses need small business insurance. If you don’t, you risk losing everything you’ve worked hard for. You may feel the potential risk outweighs the cost, but at Alexander Insurance, we work hard to get you the appropriate amount of coverage for the best prices in the St. Charles area. Straight from our team of agents, here are a few types of insurance options available for small business owners and why you may need them.
A Business Owner Policy
If you are looking for general liability and commercial property coverage, a basic business owner policy is the place to start. Suppose you have a brick-and-mortar location this crucial. General liability would protect you from lawsuits if something happened to a customer while they are in your location. For example, if a customer is injured at your location or experiences property damage, you could be held liable.
If you don’t currently have a business owner policy, have you thought about what you would do if your building caught on fire? Would you be able to afford the cost to rebuild or repair? This is generally where commercial property insurance would come in handy to cover those unforeseeable circumstances that could leave you hanging high and dry. Commercial property insurance may also cover burglary. And let’s face it. Unfortunately, this could happen anywhere. If you live in St. Louis, St.Charles, or surrounding counties, let our team at Alexander Insurance set you up for protection, so you never have to face one of these situations.
Business Interruption Insurance
If one of the unfortunate events above does happen to you, investing in a Business Interruption Insurance policy would be a wise coverage to have ahead of time. Business Interruption Insurance will cover lost income while you are getting your business back up and running again. It is so much easier and causes less stress when you are prepared instead of chancing your luck.
Professional Liability Insurance
If your business offers a professional service, having the right insurance policy to protect you from potential lawsuits is necessary. Also called errors and omissions, professional liability insurance protects you if there is a claim against your company stating you caused them financial harm, possibly due to a mistake or negligence on your end. This particular policy will help cover court and lawyer fees. Some clients you work with may even require this type of insurance before agreeing to work with you.
We live in a modern world where technology is the norm and unfortunately, so are security breaches. As a small business, you are a target for hackers because you are most likely without an IT team to protect you. If your business experiences a cyber-attack, not only will it affect you, but it could potentially affect your customers. If your business gets hacked, cyber insurance will help cover anything lost as well as protect you from potential customer lawsuits if the breach affects them too.
Are you thinking maybe an insurance policy for your small business is looking like a better idea than you thought? Well, you’re right, and we are here to help you find the right one. With over 64 years of experience under our belt, you know you can rely on us for all of your insurance needs.