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Coverage for your small business

Mosaic Insurance can help you protect your Prescott small business with proper insurance.Insurance plays a very important role in protecting small businesses. Mosaic Insurance would like to point out some important things to consider when purchasing insurance coverage for your small business in Prescott.

From the day you start your small business, you expose yourself to certain risks. It is important to have the right insurance in place. One catastrophic event or lawsuit could have the potential to wipe out your small business before you have a chance to get it off the ground.

Here are some insurance types that your business should have in place as soon as possible:

Professional liability insurance. Also known as errors and omissions (E&O) insurance, professional liability insurance will cover your business against negligence claims due to harm that results from mistakes or failure to perform. Every business has its own set of concerns, and these concerns will be addressed in a customized policy written for your business.

Property insurance. Whether your business owns or leases its space, property insurance is a must. This insurance covers signage, furniture, equipment and inventory in the event of a fire, storm or theft.

Workers’ compensation insurance. If you have one or more employees, workers’ compensation insurance needs to be added to a business’s insurance policy. This will cover medical treatment, disability, and death benefits in the event an employee is injured or dies as a result of his work with that business. Even if an employee is not engaged in dangerous work, slip-and-fall injuries or medical conditions such as carpal tunnel syndrome could result in a pricey claim.

Home-based businesses. If you’re operating your business out of your home, ask your insurer for additional insurance to cover your inventory and equipment in the event of a problem.

Vehicle insurance. If company vehicles will be used, those vehicles should be fully insured to protect businesses against liability if an accident should occur. Also, find out everything you need to know if employees are using their own cars for your business.

Insurance plays a very important role in protecting small businesses. Mosaic Insurance believes it is important that you are aware of things to consider when purchasing insurance coverage for your small business in Prescott. To make sure you are fully protected, call Mosaic Insurance today at 928-458-7374.

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