Protect Your Company and Yourself with Business Insurance

As a business owner, you have a lot on your plate. From managing employees to keeping up with regulations, there’s always something that needs your attention. One thing you don’t want to have to worry about is the financial impact of unexpected events. That’s where Coral Point comes in.

Business insurance is a type of insurance that protects your company’s assets and bottom line from a variety of risks. Some of the most common types of coverage include:

  • General liability insurance: This coverage protects your business from third-party claims of bodily injury or property damage.
  • Property insurance: This coverage protects your physical assets, such as your office or retail space, from damage or loss.
  • Professional liability insurance: This type of coverage, also known as errors and omissions insurance, protects your business from financial losses due to third-party claims of negligence or malpractice.
  • Workers’ compensation insurance: This type of coverage provides benefits to employees who are injured on the job.
  • Cyber liability insurance: This coverage protects your business from the financial losses caused by a data breach or cyber attack.
  • A Business Owners Policy (BOP): is a type of insurance package designed for small to medium-sized businesses. It typically includes liability coverage and property coverage, which can protect your business from a variety of risks.

Who Needs It?

Any business, no matter how small or large, can benefit from having business insurance. It’s especially important for companies that have physical assets, employees, or deal with sensitive customer information. Common industries that need business insurance include:

  • Retail Businesses

  • Service Providers

  • Construction Companies

  • Technology Companies

  • Food & Hospitality Businesses

  • Manufacturing Companies

  • Transportation Companies

  • Wholesale & Distribution Businesses

  • Professional Services Firms

  • And More!

It’s always good to have insurance in case of accidents, even if it isn’t required contractually.

Why is Business Insurance Important?

It not only protects your company’s assets, but it also provides financial security in the event of a covered loss. Without insurance, a single lawsuit or natural disaster could financially cripple your business.

How much does it cost?

The cost of business insurance varies depending on the type and amount of coverage you need. Factors that can affect the cost include the size and type of your business, the location of your business, and your claims history. On average, small business owners can expect to pay between $500 and $3,000 per year for a comprehensive insurance package when starting your business.

Don’t let the risks associated with running a business threaten the future of your company. Contact Coral Point Insurance today to learn more about our insurance options and to get a personalized quote.

Don’t wait until it’s too late to protect your business. Contact us today to get a free quote..

Basic Coverages

  • General Liability (GL): often referred to as business liability insurance, is coverage that can protect you from a variety of claims including bodily injury, property damage, personal injury and others that can arise from your business operations. Typically needed before a contractor can begin work on a job
  • Commercial Auto: Commercial auto insurance is liability and physical damage protection for vehicles, such as cars, trucks and vans, that are used for business. Commercial vehicles require a separate policy because they’re typically exposed to more risk than personal vehicles. You have the choice to cover attached equipment such as ladder racks and permanently attached tool boxes. Individual tools and materials usually aren’t covered under this policy.

Other coverages contractors might need

  • Business Owners Policy (BOP): Packages contractors liability and coverage for personal property and commercial buildings into one policy.
  • Workers’ Compensation: Protects if your employees become ill or injured while at work.