The coronavirus outbreak is still affecting the world around us, including businesses of all sizes and shapes. All businesses face risks. However, certain types of businesses, especially companies that sell services for hire, face more considerable risks than other businesses.
Having proper liability insurance can be highly beneficial in mitigating all sorts of risks and avoiding expensive lawsuits. Let’s talk more about how your business can benefit from having liability insurance and whether or not you need professional Melton McFadden’s liability insurance service.
Small Business Insurance at Melton McFadden
When you’re running a business, there are many situations that happen daily. Many of these situations can expose your operations and employees to unnecessary risks that you could have avoided by being insured against such occurrences.
Melton McFadden offers a variety of insurances to ensure safety and efficiency for your business. If you’re looking to insure your business, we have different types of business insurance plans available:
Business Owners Policy – BOP integrates essential insurances into one business insurance plan that takes care of both property and general liability insurance policies. You can personalize it by adding other optional plans to have your business fully insured.
● Workers Compensation – workers compensation insurance coverage isn’t an option for business owners; it’s necessary. Businesses are required to have it. In case your employees get injured at work or during employment, this insurance covers all the damages, handles payments, and protects the workers’ rights. It also covers all medical expenses due to injuries related to employment.
● Property & Liability Insurance – everything you own, objects and property, should be adequately covered with an adequate insurance policy. Liability insurance is an insurance product that provides protection against claims resulting from injuries and damage to other people or property. Liability insurance policies cover any legal costs and payouts an insured party is responsible for if they are found legally liable.
● Specialty Liability Insurance – this type of insurance includes specialty liability insurance coverage such as professional liability, pollution liability, marine liability, directors and officers liability, and errors and omissions liability. This insurance plan protects your operations against claims of alleged wrongful acts, such as human errors that caused clients or customers to lose income, pollution incidents, wrongful discharge, retaliatory treatment, breach of duty, and more.
Business Life Insurance, Disability and Benefits
Protecting your property, inventory, and other possessions is one side of the coin, while providing your employees with proper life insurance is the other. The only way to build a positive and healthy workplace is to have your employees properly insured with life insurance, disability, and benefits.
At Melton McFadden, we provide several insurance plans that cover such services:
Disability insurance – in case an employee is unable to perform their duty due to short-term or long-term disability, they get financial assistance.
Buy-Sell agreements – in case you run a business with several business co-owners, BSA handles how business shares will be reassigned in case one of the co-owners leaves the company or dies.
● Key Man coverage – this is full life insurance coverage for a key executive.
● Group benefits – health, life, and other insurances for a group of employees.
● Small Business insurance – includes various liability insurance plans covering advertising injury, judgments and legal defense, product liability, personal and bodily injury, property damage, and more.
If you think your commercial assets need protection and you want only the best for your employees, Milton McFadden is the right insurance company for you. Contact Melton McFadden to see what your insurance options are and get a free quote today.