Types of Business Insurance You Should Know About
Running a business involves risk, and the right insurance can protect you from financial losses that could threaten your operations. JNR Insurance Agency offers business insurance in Jersey City, Dumbo, NY, Brooklyn, Bushwick, Williamsburg, NY, Prospect Park, NY and surrounding areas.
General Liability Insurance
Covers claims of bodily injury, property damage, or personal injury caused by your business operations, products, or services. It’s often the first policy small businesses purchase.
Property Insurance
Protects your building, equipment, inventory, and furniture from risks like fire, theft, or certain weather events. It can cover owned or leased spaces.
Business Interruption Insurance
Helps replace lost income and cover expenses if your operations are halted due to a covered disaster, such as a fire or natural disaster.
Professional Liability Insurance
Also called Errors & Omissions (E&O) insurance, this covers claims of negligence, mistakes, or failure to deliver services as promised—especially important for consultants, lawyers, and other service providers.
Workers’ Compensation Insurance
Required in most places if you have employees. It covers medical costs and lost wages for workers injured or made ill on the job, and it protects you from certain lawsuits.
Commercial Auto Insurance
Covers company-owned vehicles used for business purposes. It provides liability and physical damage protection if vehicles are involved in accidents.
Cyber Liability Insurance
Protects against data breaches, cyberattacks, and related legal costs—essential for businesses handling sensitive digital information.
Product Liability Insurance
If you manufacture or sell goods, this protects you from claims related to product defects that cause injury or damage.
Conclusion
Choosing the right mix of insurance depends on your industry, size, and risk profile. A good policy portfolio can safeguard your business’s finances, reputation, and continuity, giving you peace of mind to focus on growth. Would you like to discuss? Please give us a call, or email us!