Many coverage options exist for entrepreneurs seeking business insurance. While this may be seen as positive, it often makes it difficult for new entrepreneurs to decide which is best for them. As you search for Hartford, CT insurance, here are three basic coverages that you should plan to include in your policy.
There are various forms of liability insurance. As a whole, they protect against lawsuits brought against you by third parties claiming to have experienced a loss or injury because of your business. They cover payments for attorneys’ fees, settlements and judgments. The most popular forms of liability insurance are general and professional liability coverages.
Property insurance offers coverage in case your business property becomes damaged or lost. The policy makes funds available for the repair or replacement of items including your building and landscaping, equipment, furniture and electronic data. Incidents that are usually covered include fires, certain storms, vandalism and theft.
Worker’s Compensation Insurance
Depending on where you live, you may be required to carry worker’s compensation if you have at least one employee. It covers you in case one of your employees is injured or becomes ill because of work-related activities and pays for medical bills and lost wages resulting from such an incident.
It’s likely that you’ll need other coverages that are specific to your industry. Work with an experienced Hartford, CT insurance agent to craft a policy that best meets your needs.