Do you need business insurance?

As a business owner, you’ve worked hard to make your dream a reality. And now that you’re up and running, protecting that dream is just as important as building it. That’s where business insurance comes in — giving you confidence to keep moving forward no matter what comes your way.

Whether it’s an unexpected accident, a natural disaster, or a simple mistake, the right business insurance coverage can help protect your finances, property, equipment, inventory, and even your reputation and future. Read on to discover how.

What does business insurance cover?

Every business is unique, so your insurance should be, too. Here are some common types of coverages you’ll want to consider:

General liability. Helps protect your business from claims of bodily injury, property damage, or personal and advertising injury that can arise from your operations.

Business personal property. Covers the essential equipment that keeps your business running — like office furniture, computers, printers and other electronics, as well as machinery, tools, and inventory.

Building insurance. Helps protect against structural damage if you own the building where you do business. If you lease your space, you can typically insure improvements that you funded.

Business auto. Provides liability, collision, and comprehensive coverage for vehicles used in your business. Curious about the differences between a commercial versus personal auto policy? We can help you understand.

Commercial umbrella. Adds an extra layer of protection beyond your primary business liability coverage, so you have even more peace of mind. Plus, it covers your business vehicles, too.

These are just a few of the many coverage options available. Explore more types of business coverage American Family Insurance offers to help protect your business dreams.

Is insurance required for my business?

It depends on the state you live in and the type of business you run. Most states require workers' compensation coverage if you have employees. In addition, business insurance can be required if you carry a loan, maintain inventory, or rent space from a landlord.

Even if it’s not required, business insurance is a smart investment. Imagine if a fire destroyed your inventory or a lawsuit threatened your livelihood. Business insurance can help you recover and keep your goals on track.

How do I get business insurance?

Finding the right business insurance coverage starts with understanding your risks and needs. Here are some tips to consider:

• Assess your risks, including all business property, inventory, and equipment.
• Talk to an insurance professional who understands your industry.
• Compare rates, coverages, endorsements, exclusions, limits, and deductibles.
• Choose a reputable, licensed insurer with a strong financial track record.
• Take advantage of resources like loss control articles, checklists, and guides from American Family to help minimize losses from fires, theft, and injuries.
• Review your risks and insurance needs at least once a year.

Running a business from home?

If you operate your business from home, you may need additional protection. Home business insurance is an optional coverage you can add to your homeowners insurance policy to help safeguard your investment. Learn more about home-based business insurance.

Let’s protect your dream

The right business insurance can help protect your building, property, equipment, inventory, and vehicles — not to mention your reputation. Without it, you could be putting your business, and your dreams, at risk. Have questions? Connect with an American Family agent to find out how you can best protect everything you work so hard for.

This article is for informational purposes only and based on information that is widely available. This information does not, and is not intended to, constitute legal or financial advice. You should contact a professional for advice specific to your situation. This article does not afford, offer, or guarantee any coverage.

This article may include information that represents a brief description of coverages, but this is not part of your policy, and is not a promise or guarantee of coverage. If there is any conflict between this information and your policy, the provisions of the policy will prevail. Insurance policy terms and conditions may apply. Exclusions may apply to policies, endorsements, or riders. Coverage may vary by state and may be subject to change. Some products are not available in every state. Please read your policy and contact your agent for assistance.