Many small business owners or people working “side hustles” may not see the need to buy business insurance, particularly if they do not have a physical business location in North Carolina. Unfortunately, business owners around the state and across the country often find out how difficult and costly it can be to not have coverage when it is needed.
While physical companies require business property or commercial property insurance to protect them in the event of a claim of injury or damage, online businesses or service businesses may not need this specific insurance. There are some types of insurance that are ideal for all types of companies throughout North Carolina.
Business Income Insurance
Business income insurance is designed to provide a replacement for lost income on covered losses. Without this, there are higher rates of business failures as owners struggle to try to pay employees, vendors and to keep the business viable until it can open again. Making the choice to Buy Business Insurance In Asheville, NC keeps your business running.
Professional Liability Insurance
This type of insurance is sometimes called errors and omissions or E&O insurance. It is designed to protect you in the event a consumer claims there was an error on your part on the services provided. It is essential to buy business insurance for anyone offering consulting or advising types of services.
Data Breach Insurance
Data breach insurance protects your business if you are hacked and customer, client, or vendor information is accessed through the breach. Also known as cyber insurance, it is essential if any customer information is stored online or in apps by your business.