The agents at Fida Insurance Group know that starting a small business can be challenging for Monroe, CT entrepreneurs. Good insurance coverage is essential for protecting your investment. Here are three of the most common types of insurance for small businesses.
General Liability Insurance
This policy covers accidents, injuries, and other damages that your business is liable for. For example, if someone enters your business and trips on something, you would likely be responsible for the fall and any related costs. This includes medical expenses, lost wages, and possibly even disability payments if the person is seriously injured and unable to work.
Workers’ Comp Insurance
This type of insurance covers employees who may become injured at work and pays for medical care and wage reimbursement until the employee is rehabilitated or reach maximum medical improvement (MMI). If an employee does reach MMI and still cannot return to work, you may also be liable for their ongoing medical treatment and living costs if the employee successfully wins a personal injury claim against you in a court of law.
Property insurance protects your physical assets, like your building, equipment, and other valuables, from theft or damage. If a storm tore the roof off your building, your property insurance would be what you file your claim under. Or if your building were vandalized, this policy would pay for it to be repaired or your property replaced.
If your Monroe, CT small business doesn’t have the right insurance coverage for losses, you could be stuck footing the bill. Fida Insurance Group can help you navigate different types of insurance for your business and will answer your important questions. Call today to learn more.