Business Insurance in Columbia, SC
The business world is rife with opportunities but may also involve inherent risks and exposures. Regardless of the size of your enterprise or the industry in which you operate, certain accidents, errors and other incidents may loom as constant dangers to your prosperity and prospects. Even the most experienced and careful companies may need to secure a robust business insurance package capable of offsetting unexpected losses and expenses. 
What Is Business Insurance?
Your company should first understand that while business insurance is a common term, it does not often refer to a single type of policy. Rather, retaining adequate business insurance, also known as commercial insurance, may require your organization to compile several separate policies. When combined, these components can fulfill various coverage needs and cast a comprehensive financial safety net across your business’s risks and exposures.
What Does My Insurance Cover?
The ideal makeup of a business insurance portfolio may vary significantly depending on your organization’s unique circumstances. Still, many types of insurance may transcend industry lines, location and other specific details of your operations, including the following:
- General liability insurance—These policies can offset third-party losses arising from bodily injuries, property damage or personal and advertising injuries for which you’re responsible.
- Commercial property insurance—This type of insurance can help limit out-of-pocket expenses should your company’s physical property, such as buildings and equipment, be damaged by covered perils.
- Business interruption insurance—This aspect of your coverage can compensate your company for reduced income and ongoing expenses if forced to delay or temporarily shut down normal operations.
- Workers’ compensation insurance—Often required by law, this policy can help ensure employees who have been injured or become ill on the job can receive the care and resources they need. Additionally, its employer liability component may help pay for legal costs if your business is sued following such incidents.
While the aforementioned policies are applicable to most businesses’ coverage needs, you should examine your company’s operations to address any remaining gaps. For example, if you use vehicles or work with sensitive data, commercial auto insurance and cyber liability insurance, respectively, are likely needed. Similarly, if you provide professional advice or services, errors and omissions insurance could be a crucial investment.
Get the Right Coverage
Contact Butler’s Insurance Agency LLC today to learn more about coverage options for your business or compare tailored quotes.