Getting Coverage For Your Business

​When you've purchased your Business Owner Policy (BOP), you certainly made sure that you got all the security that you need for your business. From property insurance, liability insurance, to business interruption insurance, you surely got the best to secure your business. 

Even so, your policy may not cover any recent modifications you've made to your firm. As a result, here are some additional policies you can obtain to safeguard your company:

Optional Coverage for Your Business Policy
Aside from the three policies mentioned before, here are some extra coverages that you might need to protect your company and employees. 

1. Employee Dishonesty
   Employee dishonesty is defined as any fraudulent conduct undertaken by your employee or a group of workers that might result in your business’ financial losses. So, to avoid such cases, a policy that you can add to your current policy is the standalone employee dishonesty insurance or commercial crime policy.
   
   This coverage is utilized for safeguarding against the stealing of money, assets, or properties by employees. So, when such an event happens, rest assured that your insurer will take action to settle the costs.
   
   
2. Auto Liability 
   Auto Liability may cover physical casualties and property damage done by an automobile used for your company by employed and non-owner drivers. As a result, getting this coverage can ensure the safety of your employees.
   
   In such a case wherein you or your employee is sued after a major car accident in any vehicle that you own, commercial auto liability insurance should protect your company's assets.
   
   
3. Data Breach Insurance
   This coverage is important as businesses always have their clients' data. Most of the time, this information is given with a confidentiality agreement. However, there are circumstances wherein data from your company can be stolen. 
   
   So, when such cases happen, you must have this coverage to ensure that all damage done by the theft is settled without you or your company losing money.
   
   
4. Employment Practices Liability
   Ensuring that the internal relationship of your company is as important as the external connections your company has.
   
   So, this polcy is utilized by business owners to cover claims arising from suspected or real forms of hate, such as harassment, retaliation, discrimination, and other similar circumstances in the workplace. 
   
   
5. Professional Liability Insurance
   This policy, also known as Errors & Omissions coverage, assists you if your professional errors produce monetary loss to consumers. These clients are likely to hold you accountable for poor legal guidance. If this occurs, your insurance coverage may be able to assist you.

Conclusion
As a business owner, It's crucial to remember that a BOP won't cover all of the risks of running a new company, and the coverage levels are often smaller. Additionally, as businesses are continually upgrading, there are needed changes and advancements that they'll require for you, your employees, and clients to feel safe.

At Family Auto Insurance Agency, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (313) 285-9042. Get your free quote today by CLICKING HERE. Coverage discussed in this article is not guaranteed. Please chat with one of our agents to understand your coverage and make sure your needs are met. We are happy to help!