Small Business Insurance

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Small businesses are a critical part of any local economy.

They encourage healthy competition, are champions of innovation, and will most likely have stellar customer service to go with their quality products.

Most importantly, small businesses are the products of the hopes and dreams of individuals.

That’s why small businesses, above all others, should be protected from possible financial risks.

This article will discuss everything you need to know about small business insurance and how it can help protect small businesses in times of need.

What is Small Business Insurance?

If you run a small business, you know that planning for disasters is one of the most critical steps. Most small businesses don’t have large cash reserves to use up when things get tough, so any unexpected event could turn out to be a financial disaster.

Unless you’re protected by small business insurance, this type of insurance policy commonly exists as an insurance bundle that offers comprehensive protection for your small business.

Most small business insurance typically creates a policy with the three basic commercial coverages:

  • General liability insurance
  • Workers’ compensation insurance
  • Commercial auto insurance

Bundles like this tend to serve as a catch-all for most of the risks your small business might face. However, there are also many other coverages that you can avail of in your small business insurance, such as:

  • Business owner’s policy
  • Business liability
  • Commercial property
  • Business income
  • Professional liability

If you want thorough protection, you need a proper assessment of all the risks your business will likely face.

By contacting us here at Magnum Insurance, you can be assured of high-quality assessments that will tell you the best course of action for your small business.

What Does Small Business Insurance Cover?

Small business insurance exists as a package of individual coverages that insurance providers have already optimized to suit your specific risk and financial capacity. The exact coverages will depend on different factors, but here are the most common inclusions:

  • General liability insurance. Covers medical, financial, and legal costs of an incident for which your business is liable.
  • Workers’ compensation insurance. Covers compensation for workers who get sick or injured while on the job.
  • Commercial auto insurance. Protects you from the unexpected expenses of the vehicle that you use to operate your business.
  • Commercial property insurance. Covers the expenses of damages that occur to any of your business’ properties.

How Much Does Small Business Insurance Cost?

The premium you pay for your small business insurance will often depend on the following factors:

  • Business size
  • Location
  • Industry
  • Individual coverages

Getting Small Business Insurance With Magnum Insurance

The smaller the business, the more critical small business insurance becomes.

Luckily, Magnum Insurance can provide you with the high-quality service that you need. All you have to do is contact us, and you can sit back and relax as we provide the best small business insurance policy for your business.

Magnum Insurance makes Small Business Insurance easy

Insurance should be easy, and with Magnum Insurance, it is. Get your online insurance done at your convenience now!

Make a Payment

Flexible payment options including cash. Call, visit a store, or make a payment online by logging into your account.

Get our mobile app

Manage your policy. File and track a claim. Do it all with a few taps on your smartphone.

Easy claims

No one likes to file a claim. That’s why we make the process as quick and smooth as possible

Get a free Small Business Insurance quote today

Get the Business insurance you need with Magnum Insurance. Talk to an agent today by giving us a call or visiting one of our offices located across Illinois and Indiana.

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