It’s not unusual for new business owners to have trouble with purchasing business insurance. With so many available options, new owners tend to either get confused or held back from making a decision due to over-analysis. If you’re searching for insurance in Connecticut, here is a simple breakdown of the key coverages you’ll want to include in your policy.
General Liability Insurance
General liability is a wide-ranging coverage that protects you in case a lawsuit is brought against your business because a third-party sustained an injury or property damage because of your business. A slip and fall accident in your office is an example of what’s covered under general liability.
Professional Liability insurance
Professional liability covers lawsuits brought against you alleging negligence or malpractice. This can range from a product not meeting a customer’s design expectations to your customer losing a lot of money after following your advice.
Property insurance pays to repair or recover your business property in case they become damaged or lost. Events that are usually covered by property insurance include fires, certain storms, theft and vandalism.
Worker’s Compensation Insurance
If you have employees, then it’s likely that you’re going to be required to carry worker’s compensation. Your policy will cover medical expenses, legal fees and lost wages while your employee is out of the office due to a workplace accident.
Other coverages can be added to your policy depending on your needs. Work with an agent who’s experienced with insurance in Connecticut to create your perfect policy.