Small business owners often get overwhelmed by the number of insurance policies available to them. Whether you own a contracting construction firm or a boutique, many of the coverage needs are the same. There are several types of insurance policies that all small business owners should consider purchasing. Let the professional team at TAB Insurance Agency LLC in Austin, TX help you select the appropriate policies so that your business is protected when the unexpected comes up.
Crucial Coverage for Your Small Business
Business Interruption Coverage
In 2017, Hurricane Harvey stalled business operations for thousands of companies across Texas. As a result, many business owners were struggling to pay bills and employees during that time. This same scenario can happen to anyone, but for a small business, it can be devastating. Business interruption coverage offers financial assistance in specific situations that cause you to close your business for a certain period of time. Whether it is a gas leak or a hurricane, most policies like this will offer coverage of both bill payment and employee payroll.
If your business has a team of employees, Worker’s Compensation is a definite must. Accidents in the workplace happen, no matter how you try to avoid them. And, if an employee feels they have not been fairly compensated for lost wages due to injury, they could file a lawsuit against your company. Worker’s Compensation typically covers any medical and disability an employee can claim due to workplace injury. Additionally, some policies will include coverage of legal fees and representation in the instance you face a lawsuit.
Whether you are a start-up company or long since established, losing property associated with your business can be devastating. If you are considering the purchase of a property damage policy, speak with an insurance agent at TAB Insurance Agency LLC in Austin, TX. Our team will help you find a policy that includes all aspects of your business property, from structure to inventory.