Why do you need insurance for your small business?

Commercial Business Insurance provides comprehensive protection for businesses and their subsidiaries under a single policy. There are several types of commercial business insurance that take care of property, obligation, and workers’ compensation. A good commercial insurance policy can give you peace of mind, both personally and professionally. If you think about the risks that could threaten your business, the first that comes to mind is surely your property. You’re right to want to protect your business from destructive events like fire or flood, but you may not have thought of everything that could happen. Your broker should help you understand other types of risks, such as workplace safety, liability, and cyber risks. A good insurer will be able to guide you in risk management and loss prevention.

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What is Commercial Insurance?

Commercial insurance, or business insurance, protects your small business against certain types of financial loss, such as damage to the property of your business, or liability when a claim is filed with your business.

Why do I need commercial insurance?

Your business may have many assets: vehicles, office equipment, stocks, employees or partners, and most importantly, yourself. To protect these assets and your business from potential risks, you must obtain insurance.

All companies take risks, but taking too many risks or neglecting is not a good idea if you want to protect yourself from a business perspective. What if one of your partners dies or becomes disabled on the job? Would you have enough cash to deal with an emergency situation in your company? Very often, the answer to these important questions is “no”.

Types of Commercial Insurance:

  • Property Insurance: Protects buildings, furniture, vehicles, inventory, and other property related to the business. Commercial property insurance covers everything related to loss and damage to company property due to different unexpected events, such as fire, windstorms and hail, civil disobedience, and vandalism.
  • Liability Insurance: Protects against rental misfortunes, contracts, accidents, professional negligence, and other responsibilities related to the business. Business owners buy general liability insurance that covers legal problems due to accidents, injuries and negligence claims. These policies provide protection against disbursements of money related to bodily injury, property damage, medical expenses, defamation, slander and the costs of defending against claims, and obligations arising from arbitration awards or bail bond appeals. You can buy property insurance and liability insurance separately or together. Typically, buying them together is cheaper than buying them separately. Each policy is different, so before buying it you should know exactly what kind of risks your policy protects.
  • Business Interruption Insurance: If you have to temporarily close your business due to a natural disaster, for example, this insurance will cover your loss of income until your business resumes.
  • Vehicle Damage Insurance: You will have to insure any vehicles in your business. If you use personal vehicles for commercial purposes, do not forget to notify your insurance company.
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What is NOT covered by Commercial Insurance?

Most commercial insurance policies do not cover:

  • Contract Violation Lawsuits
  • Unfair Farewell Litigation
  • Sexual Harassment Litigation
  • Other lawsuits related to employment
  • Highlights of the business owner’s policy

Types of businesses that need commercial insurance:

  • Contractors: Electricians, landscapers, plumbers, masons, HVAC professionals, painters, and domestic repair professionals
  • Retail Businesses: Beauty salons, gift shops, florists, barbers, photography studios, appliance stores, and electronic stores.
  • Business Offices: Accountants/bookkeepers, advertising agencies, dentist offices, law offices, doctor’s offices, real estate agencies, and travel agencies.
  • Restaurants: Bistros, cafes, family restaurants, elegant restaurants, and more.

Additional coverage of business owners:

  • Improved adhesion, offering a variety of additional coverage and limits that include the costs of identifying thieves.
  • An improvement for contractors, which offers additional coverage and an extended limit for care, custody or control.
  • Variety of contractor accessions to meet insurance needs for specific jobs. You can add coverage for tools, equipment and material that will be installed for a competitive price.
  • Coverage of professional responsibility for barbers and stylists, florists, directors of funeral homes and optical and auditory prosthetic stores.


Take good care of your business. Being confident about having the right insurance for your business can give you peace of mind. To discuss possible insurance options for your business, contact us to help you find or implement a plan that best suits you and your business.