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Business Insurance

Operating a business requires a lot of time and effort, and looking after such an investment is essential. Building a robust insurance portfolio is one way to protect everything you’ve worked for. Business or commercial insurance can help safeguard what you worked hard to build. Without insurance, you could be susceptible to financially devastating incidents.

What Kind of Business Insurance Do I Need?

Insurance needs can vary, but most businesses need a minimum of the following three types of coverage:

  1. Commercial property insurance may help compensate a business if its property gets damaged due to covered incidents (e.g., fires, theft, vandalism or severe weather). It may include coverage for the business’s physical structure, furniture and other items critical to normal operations.
  2. General liability insurance may help pay for losses and medical bills if a business or its employees cause property damage, bodily harm, or personal or advertising injury to a third party. It also often covers legal expenses stemming from third-party liability claims.
  3. Workers’ compensation insurance may provide wage replacements and medical benefits to employees who have sustained injuries or illnesses due to work-related incidents.

The following are additional coverage options an insurer may also recommend:

  • Cyber liability insurance
  • Commercial auto insurance
  • Commercial umbrella insurance
  • Professional liability insurance
  • Directors and officers insurance
  • Product liability insurance
  • Business interruption insurance
  • Employment practices liability insurance

How Is the Cost of a Policy Determined?

The following are some key factors that can influence the cost of business insurance:

  • Industry and business type
  • Business size
  • Coverage types and limits
  • Claims history
  • Geographic location
  • Risk management practices
  • Deductibles

Where Can I Get Business Insurance Quotes?

Contact Stowe Insurance to discuss your business insurance options. We can make coverage recommendations based on your specific operations and provide a quote for a policy that’s right for you.