Winter can be brutal on small businesses. With extreme weather conditions, it can be difficult enough to get customers through your door. The last thing you need to deal with are issues that could have been covered by business insurance.
Here are some of the essential types of insurance your business needs this winter.
Commercial Auto Insurance
If your employees drive company vehicles, it’s important that they have coverage to stay safe as they navigate the roads.
Winter weather conditions (hail, ice, and snow) can increase even the most experienced driver’s chances of getting into an accident. Make sure you have the right coverage in place.
Commercial auto insurance covers the cost of damages, medical payments, and can even cover the damages caused by extreme weather conditions.
Business Liability Insurance
Ice and snow around your place of business increases the chance of an accident happening on your property. Having business liability insurance will protect your business from any liability issues or lawsuits it may face.
This type of insurance will cover injury and damage claims and can even cover the expenses related to your business’s legal defense.
Worker’s Compensation Insurance
Every business with employees should have worker’s compensation insurance, especially in the winter.
Icy and wet conditions can increase your employees’ of getting into an accident. It’s vital that you can cover the expenses associated with an injured worker.
Worker’s compensation insurance covers the medical expenses, rehabilitation costs, and makes up for the wages lost when an employee is injured or becomes sick on the job.
However, keep in mind that worker’s comp is also beneficial to the business owner. If an injured employee intends to sue, worker’s compensation insurance will cover your legal costs.