When you start a business, the options for business insurance in Rhode Island could look complex and overwhelming. However, with some guidance, you should be able to make your way through the complexities and get your insurance sorted out surprisingly easily.
There are basic policies that are common to most businesses:
- Property insurance – for your buildings and contents.
- Commercial vehicles – for any vehicles owned and used by and for the business.
- Workers’ compensation – to provide financial back-up if any of your staff members are injured on the job.
- General liability – for financial protection if anyone else (other than employees) is injured on your property or if in the course of your business activities you damage someone’s property.
Once you have those policies sorted out, you need to look at your business and identify particular risks you may face, due to location or the nature of your activities. There are specialized policies for risks ranging from floods to the consequences of an internet outage, and just about everything in between.
The best thing might be to contact a local business insurance in Rhode Island agent for guidance as to which products might best suit your business. There are new insurance products
becoming available all the time, and your local agent should be in a position to help you tailor your insurance to suit your business’s requirements.