Larry Burkman Agency has assisted many Huntsville, AL companies in finding commercial insurance that keeps them secure. But what if you run a one-person business? Will you need protection? Absolutely! Here’s what you need to know about the insurance type that makes sense for you.
Yes, One-Person Companies Need Insurance: Sole Proprietorship Policies
While it might seem odd to insure a business when you’re the only employee, sole proprietorship protection is critical! It’s available to exactly who the name suggests: firms with only one employee! How do you know if you qualify? Did you file organization articles with Alabama? If not, you count!
Note: Sole proprietor companies and self-employed individuals are different! Typically, self-employed individuals include freelancers and independent contractors who work and get paid by other businesses. Sole proprietors literally own a business and control assets, debts, etc.
Insurance Types You’ll Need
When drafting your sole proprietorship business insurance policy, it’s critical to add a variety of protection types! After all, if you’re the only person liable for your business financially, protecting yourself is critical! Just a few types of insurance you should add to your company include:
- Liability protection to keep you safe from third-party claims (bodily injury lawsuits, etc.)
- Professional liability support to pay for negligence or mistakes in your business
- Business owner’s policy (BOP) that combines liability and property coverage
- Cyber insurance (if you handle sensitive information for your customers)
- Commercial auto (especially if you make deliveries, haul tools, transport passengers, etc.)
We’re Ready to Support You!
Do you run a one-person business and need commercial insurance you can trust? Call us at Larry Burkman Agency to get started! We’ll support your Huntsville, AL company by finding reliable commercial protection that keeps you safe and minimizes unnecessary and costly expenses.
