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Your small business means everything to you. You’ve invested so much into your company, not only financially but emotionally, and you know how difficult it can be to juggle your company’s needs with your personal life. So it would be devastating if anything were to happen to it, right? That’s why every small business needs insurance. You need to protect your investment and be prepared to face any unexpected situations. But what kind of insurance do you need? Here’s a small business insurance checklist to get started.

Property Insurance

Protecting your property is the essential foundation of small business insurance. Property insurance covers your building and physical assets in an accident, including fire, explosions, burst pipes, storms, theft, and vandalism. Computers, furniture and equipment, exterior signs, fence and landscaping, important documents, and inventory are all covered. Depending on the plan and situation, property insurance may also cover construction expenses, loss of earnings, equipment breakage, and financial crimes such as money theft or embezzlement.

Workers’ Compensation

Protect your people with workers’ compensation. Workers’ comp for small business insurance covers medical costs and lost wages for work-related injuries and illnesses. It helps create a safe work environment for employees and provides financial assurance in the event of an injury, covering lost wages, medical bills, and rehabilitation benefits.

Commercial Auto

Commercial auto is a specific type of small business insurance that covers the cost of accidents involving organization-owned vehicles. Commercial auto policies cover bodily injury claims, medical payments, and physical damage, including vandalism, weather events, and collisions.

Liability Solutions

A lawsuit could be detrimental to your small business, both financially and reputationally. General liability provides protection if a member of the public, individuals from your organization, or other groups make claims of injury or damage against you. Other liability solutions to consider are D&O, Employment Practices, Cyber Liability, and Counseling Liability.

Personalized Small Business Insurance

CTG Insurance understands small businesses better than anyone. We provide personalized solutions and budget-conscious coverage. To find the right plan for you, speak to one of our experienced advisors.

About the Author: Steven Elkins
Steven Elkins is the vice president of CTG Insurance.

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