From hiring employees to managing finances, as a small business owner, you have myriad responsibilities. To ensure you protect yourself from major hardships down the road, you need to invest in quality insurance policies. Whether you run a design firm or a flower shop, there are a few small business insurance policies every owner needs.

6 Types of Business Insurance You Need 

1. General Liability

Even home-based businesses need liability insurance. If your products or services allegedly lead to bodily injury or property damage, a liability policy will protect you.

2. Property Insurance

If you own your building or business items like computers, tools, or office equipment, you need to invest in property insurance. In case of a fire, theft, water damage, or another disaster, it will cover your assets.

3. Worker’s Compensation

If employees are injured on the job, worker’s compensation insurance will cover wage replacement and medical benefits. This will also protect you from being sued.

4. Professional Liability Insurance

Also known as Errors and Omissions Insurance, professional liability policies provide a defense in case you are accused of improperly providing professional services. General liability policies, meanwhile, do not account for professional errors.

5. Data Breach Insurance

As a business owner, you are responsible for safeguarding sensitive information about employees and clients that may be stored on your servers. If a data breach occurs, an insurance policy will help cover the damage.

6. Business Owner’s Policy

To simplify matters, a business owner policy may conveniently cover every aspect of your insurance needs. It may include business interruption, property, crime, liability, and commercial auto insurance, for example. Typically, these plans are customizable and can save you money.

If you own a small business, the experienced agents from K.L. Smith Agency in Willimantic, CT, can help you invest in business insurance policies that will keep you protected. To learn more about how the team can help you, call today at (860) 423-9294. You may also visit the agency online.