What Commercial Insurance Policies do I Need for my Online-based Business?

If you run an online-based business, you may ask whether you need commercial insurance. The answer is yes. Online businesses encounter unique risks and challenges that could leave you in major financial turmoil. Commercial insurance, also known as business insurance, can protect you from these potential risks and prevent you from paying costly claims out of pocket. We at Chastain Agency Inc. have prepared some of the commercial insurance policies you need for your online business.

  • General liability: just like liability coverage for your car or home, commercial general liability coverage protects you from third-party lawsuits. It pays for legal fees against you for the service or products your sell or provides. General liability covers a bodily injury claim, property damage caused by your business, and medical bills.
  • Professional liability:  Mistakes are bound to happen, but some can cost you a fortune. Professional liability protects your reputation if you make a mistake. It covers missed deadlines, mistakes or omissions, negligence, breach of contract, libel, and privacy violations.
  • Business income insurance:  The policy covers lost income if your business can’t operate due to a covered loss like property damage or physical loss.
  • Workers’ compensation: If you have employees, you must carry workers’ compensation insurance. The policy covers lost wages and medical costs if your employee gets injured. The policy may also include death benefits and disability.
  • Product liability: If your business sells products, you must have product liability coverage. Your product, for example, can be defective and cause injuries or damage to property. The resulting legal claims may be expensive to handle without product liability insurance. The policy also covers improper labels and missing product warnings.

Commercial insurance in Gainesville, GA

Commercial insurance is meant to help you stay in business by protecting your asset from financial disasters. Ready to protect your online business in Gainesville, GA, or around the state? Contact us at Chastain Agency Inc. for a reliable quote.