For Small Businesses in King County, Insurance Is a Must

If you’ve invested your time, sweat, and money in a business in King County, you want to protect it with small business insurance. Without insurance, a lawsuit, storm, fire, or theft could cost you so much that it would force you to close your doors permanently.

What Kind of Small Business Insurance Do You Need?

Liability insurance

The type of business you own and your industry largely determine what kinds of insurance you need. However, every company should have general liability insurance to start. This covers damages, attorney fees, and court costs if you are sued and can also pay for a settlement outside court. Liability claims can include slip-and-fall injuries on your premises, non-employee accidents on your job sites, and illness from foods you’ve served.

You can add to your liability coverage with:

• A commercial umbrella policy that can be applied when you reach the limit on your general liability insurance
• Errors and omissions insurance
• Employment practices insurance
• Directors and officers insurance

Property protection

You also want to think about your property, like your office, retail space, or manufacturing facility. You can insure the structure, if you own it, protecting it in the event of a fire, storm, and other unexpected occurrences. Adding coverage for floods or earthquakes is easy and a smart move in case of natural disasters.

You can also insure the interior of your premises, whether you rent or own. This covers things like furnishings, office equipment, tools, and inventory. Even if you operate a strictly mobile business, you want to protect your vital work equipment, like tools used for construction or landscaping.

Equipment breakdown insurance is a lifesaver if you have a failure that keeps you from operating. Many machine shops have this coverage, as do commercial kitchens and factories.

Commercial auto coverage

If you or your employees drive vehicles in the operation of your business, they must be insured with a commercial policy, even if they are personal vehicles used occasionally for work. You must have at least the minimum Washington state liability insurance of:

• $25,000 for injuries or death to another person
• $50,000 for injuries or death to all other people
• $10,000 for damage to another person's property

We recommend increasing your liability protection to account for today’s high cost of medical care and property damage in case someone from your company is at fault in an accident. We also suggest adding collision and comprehensive coverage. These are probably required if you finance your business cars, trucks, or vans.

Other types of small business insurance

There are many other kinds of small business insurance you can add for more complete protection. These include:

• Cyber insurance for ID theft, data breaches, hacking, and data loss after natural disasters
• Workers’ compensation if you have one or more employees
• Bonds for professions where you must promise to uphold certain standards or complete a job on time
• Inland marine insurance to protect others’ valuable items while in transit with you
• Loss of income insurance, in case you aren’t able to operate due to events beyond your control

Let Our Independent Agents Help Protect You From Risk

At Spangler Insurance, we take the time with every King County business client to make sure they don’t have gaps in coverage that leave them vulnerable to preventable financial risks. As independent agents, we can offer a wider selection of small business insurance solutions. Plus, we give you the personalized service that big companies can’t.

Phone us at 206-329-7447 to learn more about business insurance for your specific profession and company. Our contact form also lets you reach out with questions and start a policy online.

Get a Free Business Insurance Quote