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Business Faqs

Business Insurance FAQs

  1. All businesses need insurance to protect their dream. When you own a business, the unexpected can happen including injuries, accidents, lawsuits, or damage to your building or business property. Business insurance helps to protect your business when things don’t quite go as planned. Without it you could be putting your business, and your dreams, at risk.

  2. There are many types of insurance to help protect your business against potential dangers. The insurance you need depends on the type of business you have. Among the coverages that a business should consider are:

    • General Liability
    • Property to cover an owned building and your contents
    • Workers Compensation insurance if you have employees
    • Professional Liability
    • Product Liability
    • Business Interruption
    • Commercial Auto
    • Commercial Umbrella
  3. You need to choose an insurance company that understands your needs as a business owner. Look for a company that can recommend the correct coverages and has a knowledgeable claims staff should the unexpected happen. At American Family Insurance we protect the dreams of business owners.
  4. Businesses change and evolve all the time and the need for new or additional insurance coverage changes too. American Family agents will help recommend the right insurance coverages as your business needs evolve.

  5. When contacting your local American Family agent for a quote, be sure to have some information with you to help the quoting process:

    • Detailed description of your business
    • Your anticipated sales revenue
    • Your anticipated payroll (if you have employees)
    • How long you’ve been in business
    • Building information
  6. Congrats on pursuing your entrepreneurial dreams! Business insurance isn’t always required for freelancers, but it’s a great idea. Even though you may not be selling physical goods or inviting people into your home, freelancers need protection, too. Not to mention some clients you work with may require you have the right insurance. Your American Family agent can help get you the general liability and professional liability policies you’ll want to make sure your hard work doesn’t go unprotected.
  7. When it comes to keeping your business dreams on track, money matters — and saving some on your taxes definitely helps! The good news is most business insurance premiums can be tax deductible, but there are rules and regulations to follow. Consult this webpage or talk to your accountant — they’ll help you learn more about taxes and your business!