Different Types of Insurances for Small Businesses

 Small businesses need one or various types of insurance no matter what industry they are in. An insurance secures not just the business, but the employees as well. With the different types of insurances, it may be hard to determine which one is right for a particular business. In Galveston insurance, businesses have the advantage of customizing an insurance tailored for a specific need.

Property Insurance

This insurance is important if a business has its own building or property. It protects the valuables from damages including the office furniture, equipment, and other electronic gadgets. The policies for this type of insurance may vary from one insurance company to another. There are add-on coverage in case the property is damaged from vandalism, fire, and other human errors. Typically, this insurance protects the property from natural calamities like hurricanes and earthquakes.

Auto Insurance

If a business delivers products to different channels, auto insurance should be regarded. It functions like common personal auto insurance, but it does protect the employees or whoever uses the vehicle in case of accidents. Commercial auto insurance covers different types of vehicles including vans, trucks, and even motorcycles. However, auto insurance is only limited to the company. It does not cover the personal car of the employees, so they would need a separate insurance for it. Depending on the agreement between the employer and employee though, the company can add a particular coverage for employees with inadequate personal auto insurance especially when they are in field works.

Homeowners Insurance

If a business is home-based, the homeowners insurance is the most important type to be acquired. It functions like the property insurance, only that it also covers the damages done by the actions of the owner or by the employees. Homeowners insurance can be taken advantage for its dual purpose. It protects both the business and the residential property so it is a good and cost-effective way to run a business.

General Liability

This type of insurance is also great for home-based businesses. It will protect the employees and valuables from damages caused by a third party. General liability insurance may be cheaper than other types. It will ensure protection to all valuables at all times, even from different causes.

Other types of business insurances include business owner’s policy, worker’s compensations, data breach, and many more. To know more about Galveston insurance and which one suits you best , visit http://www.houstonautoandhomeinsurance.com/.

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