Find the right coverage to suit your business.
Every business understands that it needs business insurance. From protecting employees to rebuilding after a fire, insurance is there to cover your company when you need it the most. While it’s easy to head online and select the cheapest option available, every business needs unique insurance to cover their risks, assets, and budget. To get you started, here’s how to evaluate your needed coverage whether you’re a small, big, or home-based business.
Typically, home-based businesses consist of one or no additional employees and have little revenue. Home insurance alone won’t necessarily cover your home-based business against business property loss or liability. Business insurance is needed to cover the equipment, your liability, and more.
If you total less than a few million dollars annually and only have a handful of members of staff, you’re likely to be operating a small business. A common small business policy, Business Owners Policy (or BOP), is usually available for companies with less than 100 employees and revenues of up to about $5 million or less. This coverage can be tailored to your needs and budget, while protecting the business.
A mid-sized company generates more income than a small business, but does not have the workforce of a global business. For this mid-sized business, you’ll need more coverage the more that your business grows, so it’s important to update your policies as revenue and staff increase. If your business owns expensive equipment or has locations in more than one state, you may also want to obtain special customized policies.
If you have at least 500 employees, you may be considered a large business. With multi-million dollar risks, large businesses need advanced commercial insurance. Even with a whole team dedicated to risk management, larger businesses are more vulnerable to risks and threats. Insurance can step in to cover costs so that you can focus on thriving your business. You may need additional coverage, such as cyber liability insurance and directors and officers insurance.
Taking out reliable business insurance helps to safeguard your company, whatever your size. Contact the professionals at McCarty Insurance Agency to get started on securing your Fresno, California policy.