Business Insurance

Business insurance usually includes building and business personal property, liability, business income, extra expense, etc. If the building is leased, depending on what the lease terms are, you may or may not be asked to buy insurance for the building.

If a loss happens, business income will cover the income you lose during the time of restoration if the business is suspended due to a covered peril. Extra expense covers the cost of keeping your business open during restoration. Extra expense would cover the cost of relocation and rental of the temporary location.

You might also need commercial auto insurance if you have employees that drive your company cars.

If you run a small business (revenue under $3 million dollars with fewer than 100 employees), you can get a businessowner’s policy (BOP) which is customized to include most common parts.

In Georgia, if you have 3 or more employees, you are required to have workers’ compensation. You can also get employer’s liability insurance in case the coverage of workers’ comp is not enough.