Running a business involves paying attention to detail and being prepared for anything. Insurance is essential for any company in any kind of business. When the unexpected happens, you want to be covered to avoid huge expenditures that can cripple your business. In Connecticut, as in every other state, businesses should have certain types of insurance.
Basic Insurance Types
There are basic types of coverage that are essential to CT business insurance.
Property insurance: This covers all types of business property including buildings, equipment, furniture, land, and vehicles.
General Liability: This covers lawsuits that occur if your business is held liable for injuries or damage to the property of customers or third parties.
Errors & Omissions: E&O covers businesses that advise such as attorneys or accountants in the event that a customer sues for damages that occurred as a result of that advice.
Cyber Liability: In today’s computer-driven world, this is essential coverage. It protects in the event of data breaches, viruses, or other problems caused by hackers that lead to liability for damages.
Worker’s Compensation: A company that has employees needs coverage for paying the medical bills and lost wages of employees who are injured on the job.