North Carolina Small Business Insurance

North Carolina features 833,107 small businesses. Overall, 1,555,997 people are employed by these firms, and that number will likely grow, considering that the unemployment rate here declined from 7.5 percent in 2013 to 6.3 percent in 2014. (Source: BLS). This is good news for anyone working or running a business in this state. For more good news, you should find out what North Carolina small business insurance can do for your firm.

North Carolina Small Businesses Need The Following Insurance

Protect your business (GL): Depending on the type of business you run, you can expect to see a lot of people on your property every day. It’s important for you to protect them and your firm by making sure you have general liability when you get North Carolina small business insurance. When you have this coverage, you can rest assured that the medical bills of anyone who is injured on your business property will be paid for. An additional benefit of liability coverage is that it extends to the personal belongings of people who visit your property. This means that if someone’s car, purse, or other possession gets damaged on your property, liability will pay for a replacement or repair.

Insure Your Property (BPP): Your North Carolina small business insurance policy should also include business personal property coverage. This way, if anything ever happens to your property, you will have the money to make repairs. Some examples of common issues that are covered under BPP include fires, vandalism, and storm damage. Even if your business is burglarized, BPP will pay to replace any items that you lose, such as inventory, computers, and furniture.

Employee Protection (WC): If you don’t work alone, because you have one or more employees, it’s important to add workers compensation to your North Carolina small business insurance policy. The reason you need this is to pay for the medical treatment of your employees when they are injured at work. Of course, some types of businesses need workers compensation more than others because they are inherently more dangerous, but the reality is that even the safest workplace has a few hazards that could injure employees. Your workers will appreciate knowing that their medical bills and missed wages will be covered because their boss has workers compensation as part of the North Carolina small business insurance policy.

Umbrella/Excess Liability: Having general liability means you have the basics covered, but when you want more than that, you need to add excess liability to your North Carolina small business insurance. When you add this to your policy, you can rest assured that you will have as much liability coverage as you need, even if you have to pay for the medical care or property repairs of several people.

Cyber Crime Liability: If you use computers for any reason when conducting business, it’s important to have cyber crime liability when you get North Carolina small business insurance. You will be glad to have this coverage if you ever face a data breach or similar type of cyber crime.