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If your business is expanding, there are several types of insurance you may need to look into:

  • Business interruption insurance: Property and liability only take you so far after disaster strikes. Business interruption insurance can help you rebuild by replacing lost income and covering expenses you incur getting back into the market quickly. Business interruption insurance is usually included within a typical business owner’s policy.
  • Employment practice liability insurance: Coverage for defense costs and damages related to various employment-related claims, including allegations of wrongful termination, discrimination, workplace harassment, and retaliation deriving from the employer-employee relationship. This coverage is for companies with enough employees to be subject to state or federal civil rights laws.
  • Home-based business insurance: Homeowners insurance policies generally don’t cover home-based business losses. Sure you may be able to add riders to your homeowners policy to cover normal business risks, but most homeowners’ policies only go so far in covering your home-office, and you may need to investigate additional policies to cover other risks.