How Much Business Insurance Do You Need?

Knowing how much business insurance you need will help you better protect your assets. At Mountainview Insurance, we understand how important it is to have the right insurance for your unique business. That is why we offer a range of business insurance products.

Types of Insurance Small Business Owners Should Have

Some of the different types of insurance every small business owner should look into purchasing include:

General Liability Insurance

Every business needs to have liability insurance. This type of insurance policy will protect your business in the event that you, your employee, products, or services cause bodily injury or property damage to a third party.

Property Insurance

Property insurance can help protect your building and the business’ property (office equipment, computers, inventory, and tools) from theft, vandalism, fire, smoke damage, and a range of other disasters. Business interruption/loss of earning insurance can also be purchased alongside a property insurance policy to help protect your earnings if the business is unable to operate.

Business Owner’s Policy (BOP)

A business owner’s policy works to bundle together different types of insurance, which can often result in cost savings when compared to purchasing separate insurance policies. Most BOPs will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance; however, BOPs can often be adjusted to only include the types of insurance you need for your unique business.

Commercial Auto Insurance

If you have company vehicles, commercial auto insurance can help protect the vehicles that carry your employees, products, or equipment from damage and collisions. If you do not have any company vehicles but employees drive their own cars on company business, purchasing non-owned auto insurance liability can help protect the company in the event that an employee does not have insurance or has inadequate coverage.

Worker’s Compensation

Worker’s compensation insurance provides wage replacement and medical benefits to employees who are injured while working. Having worker’s compensation insurance can also protect you and your business from legal complications, as the employee will have to give up the right to sue you for the incident in exchange for the benefits.

Professional Liability Insurance

Professional liability insurance helps protect your business in the event of failing to or improperly providing professional services. This type of insurance policy is applicable for any professional firm, such as lawyers, accountants, notaries, real estate agents, consultants, and insurance agents.

If you would like to learn more about how much business insurance you need, or if you are interested in one of our insurance products, please contact Mountainview Insurance at 604-557-0255 or by requesting a quote on our website. Mountainview Insurance is proud to provide high-quality insurance products to clients throughout Abbotsford and the surrounding areas.

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