Chapter 2: Understanding Construction & Contracting Insurance Policies
Part 2: Business Insurance Basics for Small-Business Owners
Now that potential risks are in your sights, your next move is to mitigate those exposures. If you can't outright prevent a loss from occurring, the next best option is to create a plan that minimizes damages.
Many small-business owners turn to commercial insurance as their safety net for the hazards outside their control. For instance, you can keep a tidy worksite, but there's no telling whether someone may still trip and injure themselves in your space. So if an out-of-the-blue accident does happen, you'd want an insurance policy that covers lawsuits over such injuries.
Here are the basic insurance policies that benefit almost all small-business owners:
Let's take a look at what these policies cover and how they keep your business running — even when the unpredictable strikes.
Next: General Liability Insurance
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