Protecting Your Business From Common Risks

If you’re a business owner, you may know how valuable insurance is to the success and future of your growing company. You know that insurance can protect you from a whole host of different risks and disasters. But how much and what type can vary greatly depending on your type of business, resources, assets, and specific needs. To help you understand what coverage you need, take a look at these common business risks.

  • Cybersecurity

If your business is online, it is susceptible to falling victim to cyberattacks. If your company works with sensitive client data, you need to be protected in the case of a serious data breach. Since hackers are getting smarter, it’s important to be proactive in protecting your online data. Part of this is taking out cyber liability insurance that can help your business recover if a cyberattack does happen.

  • Liability

All businesses are vulnerable to liability risks. Even a small home-based business needs some liability insurance coverage. If you, your products or services cause harm or injury, or if a client gets injured on your property, liability coverage will help to pay costs associated with that damage. There are different types of liability available, such as professional liability and product liability, that may make sense for your business, too.

  • Driving

Whether you use company vehicles or ask your employees to conduct business using their own, it’s essential that you have auto insurance coverage in place. Your personal car insurance won’t do, either, so it’s important to take out a commercial auto policy for your company. This insurance will ensure that you’re covered should something happen while conducting business on the road.

Many of these insurance policies can be combined with a Business Owners’ Policy (BOP). Whether you need insurance for a start-up or an established small business, the team at Tompkins Insurance Agencies are ready to assist. Contact us today for help getting started on your tailored business insurance.