When you own a business you want to ensure every aspect of it is protected completely. That is why we wanted to advise you on four additional business insurance options to consider.
Protecting Your Business Completely
Business insurance is created to protect your business completely; however, there are additional coverages that you may want to consider. Having additional business insurance coverage will provide peace of mind and negate risks as much as possible.
Often, businesses will have a ‘standard’ business insurance policy, which may only offer basic coverage. This coverage may have been sufficient when you started your business, however, over the years as business has grown it may be beneficial to reassess that coverage. Be sure to review our list of the four additional insurance options to consider.
Cyber Expense Insurance
The likelihood of your business having a privacy or cyber breach is high, which is why Cyber Expense Insurance is a fantastic additional coverage option to consider. In the event of a privacy breach such as a missing laptop that has customer payment information on it or if your network is hacked, this coverage provides you with $25,000 (for most markets). This coverage assists with remediation expenses, which may include notifying your customers, providing computer forensic services and credit, fraud monitoring.
The cost associated with Cyber Expense Insurance is minimal and is well worth the peace of mind considering the digital age we live in.
Business Equipment Breakdown Insurance
Many companies require particular business equipment to keep their business moving each day. Most companies use some form of business equipment that is electrical, mechanical, etc. such as cash registers, telephone systems, air-conditioning, etc.
If something were to happen to that equipment, it could disrupt your business operations resulting in costly repairs and lost income. It is essential to avoid any potential business shutdowns, which is why having Business Equipment Breakdown Insurance is so vital. Having this additional coverage will save you time and money if anything were to happen.
Business Interruption Insurance
If anything was to happen to your business, such as a fire or natural disaster, business interruption insurance steps in to assist your company with any losses associated with being temporarily unable to operate. It provides you with the additional protection needed to get your business back into operation including covering expenses, providing you with revenue for profit sales lost and it even covers moving the business to a temporary location while the business facility is being repaired.
Commercial Auto Insurance
Commercial Auto Insurance isn’t just used for businesses that have corporate or deliveries vehicles. If you drive your car frequently for business and happen to get into an accident while on company time it may be considered a business liability. Commercial Auto Insurance is a valuable additional coverage to consider, especially if you use your vehicle(s) for business use often.
Business insurance provides you with peace of mind that your business is protected if anything were to occur. When reviewing your business insurance be sure to consider our four additional business insurance coverage options – they may save you a bundle! Contact Youngs Insurance today for your no-obligation business insurance quote; we take the time to understand your business risks and provide complete insurance packages.
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