Small businesses are at a high risk of loss when a single incident occurs. It could be a fire, theft, or damage to equipment. When an instance like this occurs, it can put a business at risk because some small companies often lack significant cash reserves to get back up and running quickly. Comprehensive business insurance is nearly always necessary. Yet, for those companies just starting out, there are some forms of business insurance that are essential. These minimal coverage plans may not provide comprehensive protection, but may offer some coverage.
Take into consideration these types of coverage which are considered the most basic forms of coverage for business owners. 
- Property insurance: Aids in providing protection from damaged assets such as from wind storms, hail storms, vandalism, and fire.
- Workers compensation: Often a requirement under your state's laws, this form of insurance provides financial support when an employee is hurt on the job. It can be due to an accident or disease and helps provide coverage against former employees suing the company for medical-related losses.
- Liability insurance: This type of insurance protects against claims of property damage or injury caused by the company, the company's employees, or the company's products and services.
- Commercial auto insurance: If your company operates a vehicle as a component of the business operations, this insurance is necessary. It provides protection from liability claims as well as property damage to the vehicle itself.
- Business crime insurance: As a business, you face all types of crimes including theft, fraud, robbery, or forgery. This insurance can provide compensation in those events.
Business insurance does not stop here. Many companies need to further extend these plans to include employment practice liability, umbrella insurance, life insurance for the business owner, and spoilage coverage. Finding the right balance of policies depends on the type of business you have along with the very specific risks your company faces.
Keep in mind that this type of business insurance can help you keep your business operational when something occurs. But in many cases, it can be the single most important tool you have to keep your doors open after such an event.
Are you covered? Call Allen Harmon Insurance at 269-339-0002 for more information on business insurance.