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Four Insurance Coverages Every Georgia Business Owner Needs
Insurance coverage is available for almost every type risk your Georgia business might face. Our agency can advise you on the exact types of insurance you should consider purchasing. The right business insurance policies will go a long way toward helping you safeguard your earning power and your future. If you are a business owner, here are a few insurance products that you should consider. Allen & Furr Insurance & Wealth Management provides many different kinds of insurance products to many kinds of businesses.
Business Income or Loss of Rents
Commercial Property Insurance can cover loss of business income when damage that has occurred to the business premises (by a covered cause of loss), causes a slowdown or suspension of operations. It can include lost net income, continuing expenses, and even relocation expenses. This coverage is not always automatic, and needs to be added with specific limits.
If your business stores sensitive or non-public information about employees or clients on your computers, servers or in paper files, you are responsible for protecting that information. If a breach occurs either electronically or from a paper file, a Data Breach Policy will provide protection against the loss. Cyber breaches have increased over 45% in the last year. 30% of breaches occurred in firms with less than 100 employees. Every state has laws regarding notification of breaches which cost as much as $200 per person per breach.
If you operate a thriving business, your Commercial Liability Insurance may not be enough to protect yourself in the event of a loss. We recommend you consider adding a Commercial Umbrella Policy to protect yourself. A well designed Commercial Umbrella Insurance Policy is one of the main lines of defense in today’s increasingly litigious society. For a reasonable premium, a Business Umbrella Policy adds another layer of protection to any of several other policies that you might carry including General Liability, Employer’s Liability, and Hired and Non-owned Auto Liability policies.
Errors & Omissions Insurance
Errors and Omissions, also known as Professional Liability Insurance, helps to protect your business from lawsuits and claims which may occur as a result of providing professional services or not delivering on a commitment or promise. If you provide any kind of “professional” services you need to consider this insurance.
Established in 1981, we are dedicated to providing excellent service and competitive pricing but most importantly, professional analysis of the insurance needs of our clients. Our state of the art computer network allows us to make rate comparisons with several insurance companies to ensure that our clients receive the best we have to offer. We can help you with all your insurance needs.