How can commercial insurance protect my clients?

From the day you start running your business, you expose it to costly risks. That is why Silverton Insurance Specialist LLC recommends buying business insurance even before hiring your very first employee. However, buying insurance means getting the right coverages depending on the nature of your business. If your business involves dealing with clients directly, you may need to purchase various coverages to protect yourself from damages and certain lawsuits. So, how do you protect yourself and your clients with commercial insurance? Read on to find out how.

Property insurance

Property insurance is mandatory, whether you own or rent your business premises. This coverage covers your business equipment, furniture, signage, and inventory in case of loss due to theft or fire. Floods, earthquakes, and other mass destruction events are generally not included. You will need to purchase a separate policy to cover such perils if your business is in a high-risk area.

Business interruption insurance

Anything can interrupt your business, from a large swarm of bees, a dissatisfied client, a catastrophic event like floods or earthquakes, or any other form of interruption. These events can lead to a halt in business operations or, worse, lead to total closure of the business. You will suffer losses from income as your business may not function for some time. 

Buy professional liability insurance.

Also known as errors and omission insurance, professional liability insurance covers your business against negligence claims due to failure to perform or harm that may result from mistakes. For instance, if you are a dentist, you can protect yourself from professional liability lawsuits in case a client sues you for an unsuccessful dental surgery or root canal. When it comes to liability, insurance companies offer customized premiums depending on your business risks.

Having the right coverages in place can protect you and your clients, giving you the peace of mind that you require to run your business. For more information on how to protect your clients, contact Silverton Insurance Specialist LLC, and we will be happy to provide some help.