Business Insurance in Shoreview, MN
Business insurance may be one of your company’s most important investments. Many things can go awry throughout your organization’s operations, potentially leading to significant financial consequences. Fortunately, coverage for your business can establish a versatile and robust financial shield, securing fiscal stability and protecting future potential.
What Does Business Insurance Typically Cover? 
Business insurance, also known as commercial insurance, does not typically refer to a single type of insurance policy. Rather, this term often entails a portfolio of coverages and policies that, when combined, form comprehensive financial protection against various incidents and perils. While exact coverage needs may vary, the following types of insurance are often advisable:
- General liability insurance can financially protect your business from third-party losses for which you are at fault, including those arising from bodily injuries, property damage and reputational harm.
- Professional liability insurance, also known as errors and omissions insurance, may render aid if a client, customer or other party accuses your company of providing inadequate professional services or advice.
- Commercial property insurance may assist with repair or replacement costs if your business’s physical assets, such as its building, furniture or equipment, are damaged, lost or stolen.
- Workers’ compensation insurance is often required by law and may ensure employees who are injured or become ill on the job receive the care and resources needed to recover.
- Commercial auto insurance, also known as commercial fleet insurance, may provide financial protection against incidents involving your business’s motor vehicles.
- Cyber liability insurance can insulate your company from the fiscal ramifications of data breaches and other cyber incidents, such as phishing scams and ransomware attacks.
Why Do I Need Business Insurance?
A suitable commercial insurance portfolio can ensure your organization has the means to recover from incidents that might otherwise inflict irreparable financial ramifications. Furthermore, some of the aforementioned business insurance parts may even be required. For example, workers’ compensation insurance and commercial auto liability coverage are typically mandated by law. Additionally, if you’ve purchased your business’s building with a mortgage or rent your offices, your lender or landlord respectively may require commercial property insurance.
How to Get Business Insurance
Your business can acquire and maintain optimal business insurance coverage by working with a qualified and knowledgeable professional. To that end, the dedicated team at Dean Olson Insurance Agency in Shoreview, MN, stands ready to assist you in identifying your coverage needs, exploring possible options and securing ideal policies. Contact us today to get started.