Taking your business online opens up new markets that would be out of reach if you were only operating a brick-and-mortar business. But as you digitalize your business, you may wonder what kind of insurance you need. The reality is that business insurance for online-based businesses isn’t that different from that of conventional companies. Allen Jones Insurance Agency provides you with this guide on the commercial insurance options to consider for your e-business.
Do Online-Based Businesses Need Commercial Insurance?
Worker’s comp insurance
If you have workers in your organization, you should invest in worker’s comp insurance to cover employees’ medical costs when illnesses and work injuries occur. Worker’s comp insurance also covers partial loss of wages and final expenses for employees.
You probably have assets like computers, inventories, and warehouses. Like any other valuable thing, you need to protect your business assets with insurance. Property insurance compensates you whenever damage or loss occurs to your business assets.
It only takes one liability claim to sink your business. For instance, assume you supply products. After consumption, your customers complain that your product is detrimental to health. After investigation, it’s found that indeed your products have adverse effects on human beings. What follows is a flurry of lawsuits, and if you don’t have sufficient liability coverage, the liability claims can be too much for your business to handle.
Cyber liability insurance
With increased internet usage, there has been a proliferation of cyberattacks targeting businesses. You probably have read about high-profile hacking cases targeting big companies in the news. Your small business is also vulnerable to cybercriminals, and that’s why you need insurance to cushion your business when faced with malicious online activities.
Commercial insurance in Seguin, TX
Are you ready to get started with commercial insurance? If you are in Seguin, TX and its environs, please get in touch with Allen Jones Insurance Agency for a personalized quote.