3 Reasons You Need Insurance for Your Small Business
If you devote most of your time and energy to running a small business, insurance might be the last thing on your mind. It’s essential, however, and you should make sure you and your business are protected should misfortune strike. Here are three important reasons to get small business insurance in Virginia.
1. Protection for Your Property
The most obvious type of business insurance is for physical property. Policies vary, but you can find coverage for buildings, machines, inventory and even furniture. Some policies also cover expenses from problems such as equipment malfunction.
2. Protection From Lawsuits
Accidents happen, and you may get sued if an accident involves your business. There are two main types of liability coverage. General liability coverage protects you from lawsuits filed because of accidents or injuries, while product liability coverage relates to harm cause by the products your business sells.
3. Protection from Data Hacks
Data breaches don’t just happen to large corporations. If your customer’s stored personal or financial information is hacked, you could face unique legal challenges and expenses. Data compromise insurance covers these situations.
Small businesses face many obstacles, so it’s a good idea to protect your investment from the challenges that are sure to come. Talk to an insurance agency about your options for small business insurance in Virginia.