Protect Your Business, Your Assets & Your Future

Running a business involves more than serving customers and generating revenue. Your property, equipment, employees, inventory, and day-to-day operations all represent important investments that need protection.

Business Insurance is designed to help protect eligible businesses against certain covered losses, helping reduce the financial impact of unexpected events that could affect your operations.

At SecureWay Insurance, we help you understand business insurance considerations and identify coverage options based on the nature, size, and needs of your business.

WHAT IS BUSINESS INSURANCE?

Business insurance provides protection for eligible business assets, operations, and liabilities, subject to the terms, limits, exclusions, and conditions of the applicable policy.

Depending on the business and policy, coverage may include:

• Commercial Property Insurance

• General Liability Insurance

• Professional Liability Insurance

• Workers’ Compensation Insurance

• Business Interruption Coverage

• Equipment Breakdown Insurance

• Commercial Auto Insurance

• Business Owners Policies

• Other specialized business coverage

The right combination of coverage depends on your business activities, industry, property, employees, equipment, and potential risks.

WHY BUSINESS INSURANCE MATTERS

Unexpected events can disrupt even a well-established business.

Consider the financial impact of:

• Fire or property damage

• Theft

• Customer injuries

• Damage to business equipment

• Employee-related risks

• Professional errors or omissions

• Business interruptions

• Damage to business vehicles

• Lawsuits or liability claims

Appropriate business insurance can provide an important layer of financial protection against certain covered losses.

WHAT CAN BUSINESS INSURANCE COVER?

Business Property

Commercial property coverage may protect eligible business property such as:

• Buildings

• Office furniture

• Computers

• Machinery

• Equipment

• Inventory

• Business supplies

• Fixtures

• Other eligible commercial property

Coverage depends on the policy and applicable limits and exclusions.

General Liability

General liability insurance may provide protection against certain claims involving:

• Bodily injury

• Property damage

• Customer accidents

• Certain personal injury claims

• Legal defense costs

• Other covered liability exposures

Professional Liability

Professional liability insurance may be appropriate for businesses that provide professional services or advice.

Depending on the policy, it may address certain claims involving:

• Professional errors

• Negligence

• Omissions

• Failure to perform professional services as expected

• Certain financial losses resulting from professional services

Business Equipment

Businesses often depend heavily on equipment to operate.

Coverage may apply to eligible:

• Computers

• Machinery

• Tools

• Office equipment

• Production equipment

• Communication equipment

• Specialized business equipment

Certain equipment may require specialized coverage or endorsements.

BUSINESS INTERRUPTION INSURANCE

A covered loss can sometimes force a business to temporarily reduce or stop its operations.

Business interruption coverage may help address certain financial losses resulting from a covered interruption, depending on the policy.

Potential areas of coverage may include:

• Lost business income

• Certain continuing operating expenses

• Temporary relocation expenses

• Other eligible interruption-related costs

Coverage terms, waiting periods, limits, and qualifying events vary by policy.

WORKERS’ COMPENSATION INSURANCE

Businesses with employees may have responsibilities relating to workplace injuries and occupational risks.

Workers’ compensation insurance may provide benefits for eligible workplace injuries or illnesses, subject to applicable laws and policy requirements.

Depending on the applicable requirements, coverage may address areas such as:

• Medical expenses

• Lost wages

• Rehabilitation

• Other eligible employee benefits

Workers’ compensation requirements vary by jurisdiction and business circumstances.

COMMERCIAL AUTO INSURANCE

If your business owns, leases, or uses vehicles for business purposes, personal auto insurance may not provide the protection you need.

Commercial auto insurance may provide coverage for eligible:

• Company vehicles

• Delivery vehicles

• Service vehicles

• Work vans

• Business-use automobiles

• Other commercial vehicles

Coverage depends on the vehicle, business use, drivers, policy terms, and applicable limits.

BUSINESS INSURANCE FOR SMALL BUSINESSES

Small businesses can face many of the same risks as larger organizations.

Potential exposures may include:

• Property damage

• Customer injuries

• Theft

• Equipment failure

• Professional errors

• Employee injuries

• Cyber-related risks

• Business interruption

• Liability claims

A properly structured insurance program can help a small business address relevant risks without purchasing unnecessary coverage.

BUSINESS INSURANCE FOR LARGE & GROWING BUSINESSES

As a business grows, its insurance requirements may become more complex.

Growth may introduce additional considerations involving:

• Multiple locations

• Larger inventories

• More employees

• Specialized equipment

• Commercial vehicles

• Contractors

• Professional services

• Larger customer contracts

• Increased liability exposure

Businesses may require several complementary policies or specialized coverage depending on their operations.

WHO MAY NEED BUSINESS INSURANCE?

Business insurance may be relevant to:

• Retail businesses

• Restaurants

• Professional service providers

• Contractors

• Manufacturers

• Wholesalers

• Technology companies

• Property owners

• Consultants

• Healthcare businesses

• Transportation businesses

• Home-based businesses

• Small and medium-sized enterprises

• Other commercial organizations

The appropriate coverage depends on the specific risks associated with the business.

WHAT BUSINESS INSURANCE MAY NOT COVER

Business insurance is not unlimited.

Depending on the policy, exclusions or limitations may apply to:

• Intentional damage

• Normal wear and tear

• Certain flood losses

• Certain earthquake losses

• Uninsured risks

• Certain cyber losses

• Certain professional exposures

• Property exceeding applicable limits

• Losses subject to policy exclusions

• Claims outside the scope of the policy

Additional coverage may be available for certain risks.

HOW MUCH BUSINESS INSURANCE DO YOU NEED?

Determining the appropriate level of coverage requires consideration of several factors.

These may include:

• Business revenue

• Property value

• Inventory value

• Equipment value

• Number of employees

• Industry

• Business location

• Number of vehicles

• Professional services provided

• Potential liability exposure

• Business interruption risks

• Contractual requirements

Reviewing these factors can help identify potential coverage gaps.

CREATE A BUSINESS ASSET INVENTORY

Keeping an up-to-date record of your business assets can make it easier to understand your insurance needs.

Consider documenting:

Property
Buildings, offices, and other business premises.

Equipment
Machinery, computers, tools, and other equipment.

Inventory
Products, materials, supplies, and stock.

Vehicles
Business-owned or business-use vehicles.

Documents
Receipts, invoices, ownership records, and maintenance records.

Photographs
Keep clear photographs of valuable business property.

HOW TO PROTECT YOUR BUSINESS

Insurance is only one part of managing business risks.

Businesses can also reduce exposure by:

• Installing appropriate security systems

• Maintaining fire alarms and extinguishers

• Protecting business data

• Backing up important files

• Maintaining equipment properly

• Training employees

• Keeping accurate financial records

• Reviewing contracts carefully

• Maintaining an updated asset inventory

• Developing an emergency response plan

• Reviewing insurance coverage periodically

WHAT TO DO AFTER A COVERED BUSINESS LOSS

If your business experiences an event that may be covered:

1. Protect People & Property

Take reasonable steps to prevent additional damage when it is safe to do so.

2. Document the Damage

Take photographs and videos of affected property, equipment, inventory, and premises.

3. Make a List

Record damaged, destroyed, or missing business property.

4. Keep Records

Save receipts, repair estimates, invoices, and other relevant documentation.

5. Notify Your Insurer

Report the loss promptly and follow the insurer’s claim instructions.

6. Provide Documentation

Your insurer may request ownership records, receipts, photographs, financial records, estimates, or other information.

FREQUENTLY ASKED QUESTIONS

What is business insurance?

Business insurance is designed to help protect eligible businesses against certain covered property, liability, operational, and other risks, subject to the policy’s terms and conditions.

Does every business need business insurance?

Insurance needs vary by business. The appropriate coverage depends on the business type, activities, property, employees, location, and potential risks.

Does business insurance cover property damage?

Certain commercial property policies may cover eligible property damage caused by covered events, subject to applicable limits, deductibles, exclusions, and conditions.

Does business insurance cover lawsuits?

Certain liability policies may provide coverage for eligible claims and legal defense costs, subject to the policy terms and exclusions.

Does business insurance cover employees?

Businesses with employees may require workers’ compensation insurance or other employee-related coverage depending on applicable laws and circumstances.

Can a home-based business be insured?

A home-based business may have insurance needs that are not fully addressed by a standard homeowners or renters policy. Specialized business coverage may be appropriate.

How much business insurance do I need?

The appropriate amount depends on factors such as your property, equipment, inventory, revenue, employees, industry, and liability exposure.

Can business insurance cover lost income?

Certain business interruption policies may provide coverage for eligible lost income resulting from a covered interruption, subject to policy terms and conditions.

PROTECT THE BUSINESS YOU’VE WORKED TO BUILD

Your business represents time, investment, effort, and opportunity. Protecting its property, people, operations, and financial interests can help you prepare for unexpected events.

SecureWay Insurance can help you understand business insurance considerations, identify potential coverage gaps, and explore options suited to your business needs.

Business insurance coverage, limits, deductibles, exclusions, eligibility requirements, premiums, and claim procedures vary by insurer, policy, location, business type, and individual circumstances. This page is provided for general informational purposes only and does not guarantee coverage or benefits. The applicable insurance policy and endorsements control the actual terms of coverage.