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Small Business Insurance

Small business insurance is a vital component of risk management for entrepreneurs and business owners, offering crucial protection against a spectrum of potential liabilities. Typically encompassing various coverage types, this insurance is tailored to address distinct facets of potential risks, ensuring a comprehensive protective shield for businesses operating in diverse industries.

What Is Small Business Insurance?

Small business insurance is coverage designed to protect small businesses from financial losses due to unexpected events or circumstances. It typically includes various types of coverage tailored to the specific needs of small businesses. The necessary types and levels of coverage vary based on the industry, size, location and unique business risks.

What Does Small Business Insurance Cover?

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, inventory, raw materials, machinery, computers and other items critical to normal operations.
  1. 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.
  1. Workers’ compensation insurance may help provide wage replacement and medical benefits to employees injured or ill due to work-related incidents.

How to Get Small Business Insurance

If you need business insurance solutions, we’re here to help. Contact Hampton Insurance Services today to discuss your specific business insurance needs.