What Types of Coverage Do I Need to Protect My Business?

What Types of Coverage Do I Need to Protect My Business?

Businesses need to ensure that their operations, employees and equipment are adequately protected. It is important that business owners in the Minneapolis, MN area contact their agent at Calhoun Risk Management about their operations and discover the types of policies needed. There are several different types of coverage, some of which can be used individually or as part of a package.  

These are some of the potential policies your agent may discuss with you. Commercial General Liability coverage provides liability coverage in a variety of circumstances. If a consumer is injured while at your location or by your product, the policy may cover the business. It also may protect the business if there is a libel or slander case. Commercial auto insurance will provide protection for the business’ fleet. Talk with your agent for an appropriate coverage level for the type of vehicle and how it will be used. Commercial property insurance protects the business’ facility, as well as, products and materials. Some policies will also cover the equipment and tools. Workers compensation protects the business if employees are injured during the performance of their job. An additional employee practices liability policy protects the business in several legal situations such as wrongful termination or workplace discrimination cases. Legal costs and damages from these situations can significantly impact a business’ assets.  In recent years, cyber risk insurance has become more important. These policies protect if there is a breach of corporate or consumer information. Unfortunately, this happens frequently today.  The board of directors can also be protected with an appropriate policy.

Call the agents at Calhoun Risk Management to discuss the many types of commercial policies to protect your business. For businesses in the Minneapolis MN area, coverage is that important.