As a small business owner, you know that you need to protect your business from potential risks and liabilities. Fortunately, State Farm provides small business insurance to help you do just that. State Farm has been providing insurance for small businesses since 1922, and offers a wide range of coverage options that can be tailored to your individual needs. In this article, we’ll take a look at the various types of small business insurance offered by State Farm and what you need to do to get covered.
Types of State Farm Small Business Insurance
State Farm offers several types of small business insurance, including general liability insurance, business owners policy (BOP), workers’ compensation, commercial auto, and umbrella insurance. Each of these types of insurance offers different levels of protection and is designed to meet the needs of different types of small businesses. Let’s take a closer look at each of these types of insurance.
General Liability Insurance
General liability insurance is the most basic type of small business insurance offered by State Farm. This type of insurance protects your business from claims of bodily injury or property damage caused by you, your employees, or your products or services. It also covers certain legal expenses associated with defending your business against such claims. General liability insurance is a great option for small business owners who want to protect themselves from potential claims.
Business Owners Policy
A business owners policy (BOP) is a type of insurance package offered by State Farm that combines both general liability insurance and property insurance. BOPs are designed to provide comprehensive coverage for your business’s physical assets, such as buildings, equipment, and inventory. BOPs also provide some coverage for certain types of business losses, such as loss of income due to a covered event. BOPs are an excellent option for small business owners who want to protect their business from a variety of risks.
Workers’ Compensation Insurance
Workers’ compensation insurance is a type of insurance that provides financial benefits to employees who are injured or become ill while on the job. In most states, employers are legally required to carry workers’ compensation insurance. State Farm offers workers’ compensation insurance specifically designed for small businesses. This type of insurance helps protect small business owners from the financial burden of a work-related injury or illness.
Commercial Auto Insurance
If your small business owns or operates any vehicles, then you need to have commercial auto insurance. State Farm’s commercial auto insurance provides coverage for vehicles used for business purposes, such as delivery vans or company cars. This type of insurance helps protect your business from the costs associated with accidents involving your business vehicles.
Umbrella insurance is a type of insurance that provides additional protection beyond the limits of your other policies. This type of insurance helps protect your business from claims that exceed the limits of your other policies. For example, if you have a general liability insurance policy with a $1 million coverage limit, and you are sued for $2 million, your umbrella insurance policy can provide additional coverage for the remaining $1 million. State Farm’s umbrella insurance policies are designed to help protect your business from unexpected events.
How to Get Covered
Getting covered by State Farm is easy. All you need to do is contact a State Farm agent and they will help you determine which type of small business insurance is right for you. Your agent will help you find the right coverage for your business’s needs, and will also help you determine the right amount of coverage for your business. Once you have your coverage in place, you can rest easy knowing that your business is protected.
Protecting your small business from potential risks and liabilities is essential, and State Farm’s small business insurance can help you do just that. State Farm offers a wide range of coverage options that can be tailored to your individual needs. Whether you need general liability insurance, business owners policy (BOP), workers’ compensation, commercial auto, or umbrella insurance, State Farm has you covered. Contact a State Farm agent today to get started.