The Importance of Commercial Insurance for Small Businesses

Why is it so important for a small business to have commercial insurance? There are a few reasons you should consider getting this type of insurance if you operate a small business. An agent from Marenco Insurance of the New Rochelle, NY area can help you make decisions when it comes to protecting your company.

Protect Your Financial Assets

Since many small business owners tend to have less money than larger companies, the financial loss hits harder. This can make the difference between keeping your company alive and having to shut it down. With commercial insurance, you regularly pay to get the coverage that kicks in when certain events occur.

General liability insurance is the basic policy you need so that if any third party sues for damages or injuries, you won’t take as much of a blow since you’ll have at least some of the amount from your insurance. Property insurance is in place to help you replace or repair items and property your business uses, such as technology and inventory.

Employee Coverage

When an employee is injured while on work property or at a job site, workers’ compensation can help them get what they need for medical care. Small business health insurance is good for all of the company’s employees to cover health care and provide medical benefits.

Business Owner’s Policy

You might consider getting a Business Owner’s Policy (BOP) that provides you with a package for property and liability insurance, along with some other common types of coverage. If you don’t need a more customized approach, this is a solid insurance policy that will help you cover many bases.

Reach out to Marenco Insurance with your questions about commercial insurance. Serving the greater New Rochelle, NY area, we’re pleased to work with new clients all the time to determine what fits your needs.