Five Business Protections You MUST Have: How To Avoid Crippling Financial Loss For Your Business
Do you know the cost of dealing with an employee lawsuit?
All it takes is a solitary employee accusation to propel your company down the expensive road of defending against a wrongful act allegation. Even claims settled immediately cost an average of $7,500. Plus, the average expense for the 81% of claims settled in hearings or arbitration is $22,000 to $40,000.
Another important aspect of your business, that needs to be insured, is personal information you may have on employees or customers.
Some states (Massachusetts included) require that if you maintain the social security number; drivers license number; state issued ID card number; financial account number and a credit/debit card number, you must implement a privacy security program or… face the consequences. The Massachusetts law on this is the most stringent in the nation.
Five Business Insurance Protections You Must Have
These include:
Workers Compensation-A required insurance that protects your employees from on-the-job injuries
Business Property-Provides protection against perils like theft, vandalism and fire which can damage or cause the loss of a building, contents or equipment
Commercial Auto-Provides protection for vehicles that are damaged while in the course of conducting company business
General Liability-Protects your business, where it is held legally responsible, from claims for a defective product or other liability
EPL (Employment Practices Liability)- Protects your business against claims by individuals who allege that their legal rights as employees of the company have been violated in some way.
Sometimes, the liability and property portions are combined into a package policy which may save you money.
Our expert business insurance professionals at Allan M. Walker Insurance Services will ensure you have all of the business insurance you need—eliminating any dangerous coverage gaps.
Allan M. Walker Insurance Services- Business Insurance Professionals
Do you want the best protection for your business, employees and valuable assets?
Then talk with our expert insurance professionals to see how you can customize business insurance to fit your business needs – so you can be prepared for any unexpected accidents.
Simply complete the Protection Savings Form to get a FREE business insurance quote. The sooner we receive your information, the sooner we will get you the best protection for you and your business. So don't delay another minute, complete the form now.