What Are the Insurance Options for Small Businesses in Hudson, NY?

What type of insurance is best for small businesses? Find out below!Woman standing happily in the entrance of her coffee shop

Small businesses need a variety of insurance policies based on their specific needs. As every business runs differently, each company and workplace will need insurance to cover their unique risks.
While every business will have different risks, there are some common insurance policies that just about every company must consider.
Liability Insurance
Every business needs liability insurance. This covers your business from damages or injuries caused to others. Businesses can be sued when someone is injured or their property is damaged due to your negligence. Should someone go head over heels (on the floor, not for your product) and injure themselves in your workplace, and slap you with a lawsuit, liability can minimize the financial and reputation damage.
Property Coverage
If you own a building, you need to protect it. Everything from the building structure to the furniture down to the paperclips, you had to invest to purchase them. Should a fire destroy the building and contents, it could severely hinder your business and future. This is where property coverage steps in, to cover costs associated with a fire, natural disaster, and burst pipes.
Workers’ Compensation
Even a business with one employee are required to have workers’ compensation. This covers the liability risks if an individual is injured while on the job. This will provide financial aid to cover the employee’s medical expenses and lost wages instead of suing your company for all its worth.
Commercial Flood Insurance
Sometimes the rain, rain won’t go away. Sometimes it stays for many days. Every location is at risk of flooding. Picture your building and the perfect furniture you picked out, the important stacks of paperwork, and expensive computers. Now, imagine them floating in muddy water with no means of paying to replace the damages. Flood insurance is designed to cover losses and damages like this.
Cyber Liability Insurance
As technology advances, so do hackers. With more and more companies storing data and important information online, the event of a breach grows likely. Cyber Liability insurance is there to protect your business from viruses, leaching sensitive information, hackers, downtime for repairs, and the reputation.
Are you ready to receive all-encompassing insurance for your small business? Protect your company today by contacting Lofgren Agency in Hudson, New York!

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