Your business is like your baby. You spend months, even years nurturing this fledgling idea into a healthy, thriving enterprise. Maybe you are early in that journey and are just starting out with an exciting idea, a plan and a lot of focused energy. At Partners Direct Insurance, our focused team offers insurance ideas that uniquely fit your business. We understand that a good business team is always looking hard at the bottom line, but sometimes that can leave them vulnerable to events outside of their control. That’s where a comprehensive insurance plan, tailored for you can make all the difference. Here are 6 reasons why protecting your business is your best investment. 

As you know, when it comes to insurance, it is all about managing risk. What could potentially happen that could devastate your business and your future? What is the smartest way to keep your business (and your family) covered in case of something unforeseen? Partners Direct has relationships with some of the finest consultants and vendors in the market to get you the quick, efficient help you need should the unexpected occur and you need to use your policy to protect your business.

Each business, and each business owner(s) are unique. That’s why we don’t believe in a ‘one size fits all’ kind of approach. But here are some general things to consider as you move forward with your ‘baby.’

1. General Liability Insurance–this is Step One. You simply must have insurance to protect your business from from liability, should a person claim bodily injury while on your property. It protects you from staggering medical costs, property damage, personal injury and data loss. It is essential if you are your employees:

• Visit a client’s workplace, or they come to see you at your place of business
• Represent your client’s business in the public
• Operate a business without owning or renting any property
• Have access to a client’s equipment, like a computer network
• Need a General Liability policy in order to qualify for contracts

2) Business Property Insurance–this protects you from damage to a property and covers the cost of replacing the equipment inside. You would want to check with our team about Business Property Insurance if you:

• Own the building
• Rent a space
• Have costly business equipment like computers or furniture
• Work with large amounts of data
• Are concerned with employees who could steal client’s property or steal from your business

3) Professional Liability Insurance–This policy protects you in the case a client or customer would charge you with negligence or injury for the services your company provides. As you know, even if you are completely not at fault, a lot of money can be tied up with attorney fees and court costs. You should talk with us about Professional Liability if you:

• Have a consulting firm, like a marketing, architectural or counseling firm
• Provide professional services to your clients
• Need to enter contracts as part of doing business

4) Workers Compensation Insurance–In the state of California, employers are required by law to have workers’ compensation insurance, regardless of the number of employees. If your employee is hurt on the job, or becomes sick as a result of the workplace, you are required to pay workers’ comp benefits. These benefits include medical care, temporary disability benefits, permanent disability benefits, supplemental job displacement benefits and a return-to-work supplement, and death benefits.

5) Commercial Auto Insurance–this policy protects your business vehicle just like your personal car insurance protects you. If an employee drives unsafely, or is hit by an errant driver, or skids off the road during a rainstorm, you are covered. Each business is unique, and that’s why we like to meet with you to discuss your individual needs so we can tailor-make the policy that makes the most sense for you.

6) Cyber Insurance–as you can imagine, this is a relatively new type of insurance coverage. There are two ways a business can be vulnerable in the cyber world. First of all, if its data is hacked and the hackers are demanding ransom to give it back. Imagine the disruption and cost to your business to be virtually cut off while the problem is being rectified. The other type of coverage may be needed if you experience a cyber attack, and someone steals your clients’ data and it is used to compromise their identities. You would want to consider this type of insurance if you:

• Have a website that is accessed by the public
• Do business online
• Have your customers data stored on your website
• Have your customers data managed by a 3rd party vendor

Our Partners Direct Insurance team prides itself on tailoring solutions to fit your business needs. Call us so we can consult with you on the best ways to keep you covered!