Even if business insurance isn’t required by law in your state, it’s still a good idea to make the investment. Accidents are unpredictable, and having insurance is a form of risk management that will keep your doors open even through hardship. But what makes sense for you?

Worker’s Compensation

If a worker is injured on the job, this ensures that their medical expenses and lost wages will be covered. In a worst-case scenario, it can also cover funeral costs if those injuries are life-threatening. This is mandatory in some states depending on how many employees you have.

General Liability

No matter what your specialty is in, this business insurance Newark DE always makes sense. It doesn’t just cover expenses resulting from physical injuries, but property damage. Depending on your plan, it may cover expenses associated with emotional distress from things such as libel.

Liquor Liability

If you own a small restaurant or bar, you might think your liquor license is all you need. But if one of your patrons has a few too many drinks, you could be deemed responsible for damages and injuries that result from their intoxication. This insurance is a must-have if you serve alcohol.

Cyber Liability

Even if you just run a small boutique, this still may make sense, especially if you have high-profile clients. This will keep you covered in the event of a hacking attempt where someone steals the personal or financial information of your clients.

Commercial Auto

Even if your company vehicle isn’t the shiniest car on the lot, it is still valuable to your business, and losing it to an accident can result in a serious loss of revenue. Getting business insurance for your vehicles makes sure you’re covered, no matter who’s driving.

It may be hard to justify the expense of insurance when everything is going well. However, when the time comes to use it, you will be patting yourself on the back for thinking ahead.

By pauline