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What Type Of Business Insurance Do I Need?

What Type of Business Insurance do I need?

There are a variety of coverages to choose from when it comes to protecting your business. Our agents will work with you to find the right coverage your company’s needs.


Learning about the benefits and protections business insurance offers is easy. Speak to one of our licensed insurance agents, and get the protection you deserve. Start with getting a free quote today!


You can rely on Berglund Insurance.  We represent a carefully selected group of insurance carriers in order to provide the best coverage in Lehi, UT. These premier carriers provides the best possible coverage at competitive prices.


Do you know what types of business insurance coverages are out there? And, which of those coverages can help protect your business?


Here are a few things to consider when it comes to buying your business insurance policy:

Property Coverage

Perhaps the most obvious reason to purchase business insurance is to protect your tangible investment—from your merchandise to the tools you use to make your business work. What would you do if, for example, a fire destroyed your place of business, making your equipment unusable and your products unsellable?


The property coverage in a business insurance policy can help protect the physical property of your business against certain causes (they vary and are specified in your policy). This coverage may protect the actual building in which your business is housed, as well as inventory, equipment, furnishings and other property you have there. According to the Insurance Information Institute, it may also cover other costs, such as equipment breakdown or the cost of removing debris after a covered loss.

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Liability Coverage

No matter how careful you are, you may find yourself in a variety of situations that could result in a lawsuit against your business, so it’s a good idea to be prepared—just in case. The U.S. Small Business Administration (SBA) outlines three types of business liability coverage:

General liability coverage

This type of coverage protects you in case you are sued because of accidents, injuries or claims of negligence. For example, if someone is injured on the premises of your business and files a lawsuit against you, this type of coverage may (depending on the situation) help cover some of the related costs.

Product liability coverage

If your company manufactures or sells a product, this type of coverage may come in handy. It protects you in case your product is defective and causes injury or damage.

Professional liability coverage

Businesses that provide services often purchase this type of coverage, which protects against errors and negligence. One example, according to the SBA, is the malpractice insurance that doctors are required to carry.

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Employee Coverage

Depending on the number of employees you have, as well as other factors, there may be additional insurance considerations. Employment practices liability coverage, for example, helps protect you in case a former employee files a groundless claim against your company.

Also, according to the Insurance Information Institute, all states except Texas require businesses with a certain minimum number of employees (at least three to five, depending on the state) to have workers compensation coverage, which may help protect them in the event that an employee is injured on the job.

Business Vehicle Coverage

Just like your personal car, your business vehicle needs to be protected. Business auto coverage is available to help protect your company against liability arising from accidents in your company’s vehicle, as well as other features, depending on the policy.

Data Compromise Coverage

Data compromise coverage, or data breach coverage, is another way to protect your business. This type of coverage helps protect against any associated legal or other costs in the event that personal data of employees or customers is stolen or accidentally released by your company.

Other Considerations

As you shop for a business insurance policy, there are many things to think about.

If you run your business from home, for example, your homeowner’s insurance policy typically offers limited or no coverage for business-related property, such as supplies, tools or customers’ items stored for repair, or for business-related liability. So, it may be a good idea to consider purchasing a business insurance policy.

In addition to the coverages described above, there may be even more business insurance options to consider. Contact our licensed insurance agents to help you determine the best way to protect your company.

Get a Custom Quote for You Today.


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The Berglund Insurance Agency

Our insurance agency is here to help you and your business. Whether it be requesting a quote on your car, business, or home, we can create a custom package that fits all of your needs. We’re your one-stop insurance shop near Lehi, UT.


From custom packages to a simple consult on what your insurance options are, we’ve got you covered with top rate insurance carriers such as Progressive, Safeco, Travelers, Liberty Mutual, State Auto and many more!


We offer Same Day Auto Insurance and 24/7 online tools for better assistance. Feel free to Give Us a Call Today for your Free Quote and Ask for Our Discounts. We’re licensed in the following states: Utah, Arizona, California, Colorado, Florida, Idaho, Nevada, Tennessee and Texas.