Having insurance on your vehicle and home is something many people are quick to obtain and keep up to date, but your business should have proper coverage as well. You have spent so much time building the business and growing it, one accident is all it would take for you to lose it all. There are a variety of insurance policies to consider for your business, and some are vital while others are more optional and situational such as coverage in case of a data breach or coverage of a corporate director in case of a lawsuit or other legal issue. Work closely with your provider of business insurance in Spruce Grove to get a good idea of the specific policies and plans you may be in need of. If you are unsure, explaining your business, your services, and how large the company is can give your insurance provider a good idea of what policies will suit you best.
Understanding the Various Policies
When looking for business insurance in Spruce Grove, Patti-Lou Cumby Insurance Brokers Inc. can help you obtain the right plan for your unique situation. Commercial policies can include general liability, property coverage, commercial auto insurance, workers compensation coverage, professional liability, data breach coverage, directors insurance and more. You may even be able to find a complete business owner’s package which includes several individual policies to suit your needs. Choosing the right coverage will depend on the size of your business, its industry, and whether or not you have employees. Smaller home-based businesses may be able to get by with liability, while corporations could use a variety of individual plans.
The Differences in General and Professional Liability
General liability is one of the more common types of insurance offered by Patti-Lou Cumby Insurance Brokers Inc. and will cover both property damage and bodily injuries caused by you, your products, your employees or your services. If no other insurance is currently being used by your company, liability should be the absolute bare minimum. Professional liability differs from general in that it can provide coverage of damages caused by improperly provided services. This policy is important for a variety of professional areas including consultants, lawyers, notaries, accountants, real estate agents, hair salons and many others. Professional liability may also go by its alternative name which is Errors & Omissions Insurance. Not all insurance providers can offer it, but for some commercial applications this is a very important policy to consider.
When you are in need of proper business insurance in Spruce Grove, be sure to contact Patti-Lou Cumby Insurance Brokers Inc. Their full service approach to a variety of policies can get you the one you need quickly!
