Investing in the right forms of insurance for your business are an essential part of its financial protection. Not only is this protection important for protecting your business, but it is also critical for protecting both you and your employees in unforeseen circumstances. For companies which are now in the mature company phase of growth, some forms of insurance are crucial to the protection of your company. Consider these four forms of insurance that are essential for your small business this year.
General Liability Insurance
With general liability insurance, you can keep your business protected from any claims that may arise from the day-to-day operations of your company. These claims often surround coverage for physical injury, property damage, and personal injury. Coverage from this form of insurance will often vary based on the specific needs of your business, as well as the nature of your industry.
This form of insurance is essential for covering costs surrounding the injury of an employee on the job. Costs involved with workers’ compensation often include medical expenses for treating the injury and compensation for lost wages. As a small business owner, it is crucial to have this form of financial protection for your employees.
Auto Liability Insurance
For businesses who own or rent commercial vehicles for their business, this form of insurance is necessary to protect your business from claims surrounding an accident with one of these vehicles. If a person is injured involving one of your employees using a company car, auto liability insurance is crucial for the financial protection of your business.
Errors and Omissions Insurance
This form of insurance serves to protect your business from circumstances in which you may be considered liable for any form of negligence surrounding your services. Errors and omissions insurance often covers defense costs for circumstances involving a lawsuit against your business.
Partner with Malden Solutions Today
Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business. Stay connected with us on Twitter, Facebook, Google+, and Linkedin.