Understanding Various Types of Business Insurance

business insurance Austin

Even without employees, the day a business starts it is exposed to risks. It is important to choose the right business insurance in Austin; one expensive lawsuit or catastrophic event could be enough to wipe out your small business before it is established.

Business Insurance Options

Fortunately, an extensive portfolio of business insurance in Austin can mitigate the risks that may affect your small business. Here are three essential business insurance options that you should consider as soon as possible:

  1. Workers’ compensation insurance. After you hire your first employee, make sure to add workers’ compensation insurance in the event an employee is hurt.
  2. Property insurance. This type of insurance covers furniture, inventory, signage and equipment in the event of theft, a storm or fire.
  3. Professional liability insurance. Professional liability insurance, also known as errors and omissions insurance, offers coverage against negligence claims as a result of harm that results from mistakes or performance failures.

Having the right business insurance in place can help small business owners avoid the significant financial loss of expensive litigation claims.

Meeting Your Business Insurance Needs

There are many business insurance options to cover your company’s needs. Make sure to talk to a trusted insurance agent to discuss business insurance in Austin that best fits your business needs and budget.