In our previous blog, we discussed some basics of business insurance. I want to continue talking about business insurance and the various coverages and endorsements available to protect your business. Owning a successful business is no easy feat. Should trouble come your way, it’s important to have business insurance to protect your investment and your brand. There are a number of coverages to consider as there are a variety of risks specifically associated with commercial policies. Let’s take a look at the most common:
Employee Practices Liability Coverage: In this day and age, hiring and firing employees opens your business up to some risk. You have likely heard about any number of lawsuits based on discrimination, wrongful termination, harassment or sexual harassment. These type of claims will cost you money and time. With EPL coverage, you can rest easy and not have to face the stress and exposure to such risk alone.
Professional Liability Coverage: This coverage exists to protect you from any claims of negligence or damages to another person or another business as a result. This is pretty straightforward, however, should you have questions, call our office to discuss Professional Liability Coverage and the risks not having it pose to your business.
Data Breach: This is becoming more and more common. If you have personal information of customers or financial information, your customers and even employees are at risk of a data breach. Most states have a host of requirements associated with managing customer information. If people are trusting you with their information, you should definitely hold that trust in high regard. Expenses can add up quickly when it comes to notifying any affected customers or in damages incurred for lost, stolen, or even accidental release of financial information. If the information is leaked, lawsuits could definitely head your way. Those costs can be covered as well, depending on your policy.
There is much more in the way of Commercial Insurance and the endorsements you can add to your policy for added protection and peace of mind. The team at Moyer & Moyer are always here to answer questions and help provide you the peace of mind you deserve as a business owner. Call us today for a free, no-obligation quote to get started.