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Finding an insurance agency in Needham to cover your new business may not be high on your priority list but it should be. After all, if something were to happen, whether a lawsuit or property damage, your business ability to continue to grow in the face of adversity will depend on your agency and the coverages within your policy. As you search for the right agency to work with, here are three key coverages that you should be sure to carry that will serve as building blocks for the rest of your policy.
Commercial Liability Insurance
Commercial liability insurance is intended to serve as general coverage for your business against lawsuits where a third party suffers an injury or property damage because of your business. Your policy would cover your legal costs including attorneys fees, settlements or judgments.
Professional Liability Insurance
Professional liability is specific coverage for third-party lawsuits claiming that an error on your part led to them experiencing a loss. In the medical field, its usually referred to as malpractice insurance, but it’s critical for those in other fields as well.
Property insurance protects your belongings including your building, equipment, furniture and digital assets. If your covered items become lost or damaged because of a fire, storm, vandalism or theft, your policy will pay for their restoration.
With these three coverages, you’ll be ready to build out the more specific aspects of your policy. Working with an experienced insurance agency in Needham can ensure your policy is crafted to meet your needs.