As a business owner, you might not know all the benefits your company can enjoy if you invest in commercial insurance. At Bacon Insurance Group, we’re here to provide insurance coverage to business owners in Richmond, VA.
Here are four surprising benefits your company can enjoy with commercial insurance.
Coverage for business interruption
Events like natural disasters that halt business activities can cause companies to go out of business.
With commercial insurance, businesses can enjoy business interruption coverage. This compensates companies for lost profits so that events that temporarily stop business activities don’t have such drastic consequences.
Reputation management
A good reputation is essential for continued business success. Unfortunately, negative publicity can damage a company’s reputation.
Commercial insurance can compensate a company for any financial losses it faces due to certain types of reputation damage. This type of coverage can also pay for the costs of publicity efforts needed to respond to negative publicity and save a company’s reputation.
Product liability coverage
Businesses that produce physical products can benefit from product liability coverage. This type of coverage pays for lawsuit costs when a company’s products cause injuries or other adverse events that harm other individuals or organizations.
Cyber liability
Cyber liability is an increasingly significant issue for businesses as time goes on. Companies need to store sensitive data online nowadays, and cyber liability coverage can cover any financial losses or lawsuit damages caused by data breaches.
We’re here to help if you need insurance coverage for your business in Richmond, VA. Call Bacon Insurance Group today for a policy quote.
Comparing Quotes - Made Simple