Illinois Small Businesses Need The Following Insurance
Protect your business (GL): Whether your place of business welcomes hundreds of customers per day or only gets a few visitors once in a while, you need general liability when you get Illinois small business insurance. The reason for adding this to your policy is that it can pay for the medical expenses that are necessary when someone gets injured at your business location. Whether someone breaks a bone or has a more serious injury on your property, you will be relieved to know that their medical bills will be taken care of by your general liability coverage. Additionally, if a visitor’s possessions are somehow ruined during a visit to your business, general liability will pay to repair or replace those items.
Insure Your Property (BPP): As a business owner in Illinois, you likely take pride in your business personal property. But you might need help keeping it in great condition, especially after a fire burns the building and its contents, or a criminal defaces the property. When such incidents occur, you will be glad that you have an Illinois small business insurance policy with BPP. This coverage will pay for repairs and replacements when necessary, which just might keep you from having to take out a loan or even declare bankruptcy if your business property is ever heavily damaged.
Employee Protection (WC): If your business is among the 248,689 small firms with employees in this state, it’s important to add workers compensation to your Illinois small business insurance policy. This is because you need some coverage to pay for the medical care that employees will need if they are ever injured or become ill while working at your business. This aspect of your Illinois small business insurance policy can even pay employees for wages they miss out on when they are recovering and unable to work for you.
Umbrella/Excess Liability: As beneficial as general liability can be, it’s not necessarily enough to cover the costs of every incident that might injure people at your place of business. If there is an accident of some type that results in multiple people being hurt, excess liability will be helpful to have as one aspect of your Illinois small business insurance policy. This simply increases the limits of your general liability coverage.
Cyber Crime Liability: No business is immune to the effects of cyber crime, but some businesses are proactive enough to have cyber crime liability as part of their insurance policy. If you want to protect your company against the consequences that come with cyber crime, add this coverage to your Illinois small business insurance policy today.