Esta página de Internet está disponible sólo en inglés. Sin embargo, tenemos otros materiales de educación financiera en español.
Starting a business means taking a risk – one that can have significant rewards. Fortunately, certain types of insurance can help protect your business, and reduce the risk you assume when you become your own boss. Here are a few types insurance you may want to consider:
A business owners’ policy (BOP) can cover liability risks, and property risks, such as fire, lightning, vandalism, and theft. It may also reimburse you if your business is temporarily shut down.
If you have employees, you’re required (in all states except Texas) to buy workers’ compensation insurance. With this coverage, an employee injured at work will receive wage replacement income and reimbursement for medical expenses.
If you use an automobile for business purposes, your personal auto insurance may not cover you in an accident. A commercial auto insurance policy can help cover liability costs resulting from accidental damage.
Also known as errors and omissions (E&O) insurance, professional liability coverage will help protect you from financial loss due to alleged malpractice or negligence claims. This is especially important if your business provides certain types of personal services, such as a medical practice or a counseling firm.
If you run your business from your home, your homeowners insurance may not cover your business property or business liability. To protect your business, it may be smart to take out a policy specifically for your home-based business.
If one of your most crucial employees dies or becomes disabled, life and disability insurance can help cover the financial losses to your business that may accompany the disruption.
Purchasing insurance protection can help you feel more confident that the business you build will survive short-term setbacks and continue to grow for years to come.
Discover our comprehensive resource library, offering guidance and information to help you start, run and grow your business.
Information and views are general in nature for your consideration and are not legal, tax, or investment advice. Wells Fargo makes no warranties as to accuracy or completeness of information, does not endorse any non-Wells Fargo companies, products, or services described here, and takes no liability for your use of this information. Information and suggestions regarding business risk management and safeguards do not necessarily represent Wells Fargo's business practices or experience. Please contact your own legal, tax, or financial advisors regarding your specific business needs before taking any action based upon this information.
Wells Fargo & Company or its affiliates do not provide tax advice. Please see your tax advisor to determine how this information may apply to your own situation.
Wells Fargo Insurance, Inc. (Minneapolis, MN) is a licensed agency that represents — and is compensated by — the insurer based on the amount of insurance sold.
Please review your insurance policies carefully as coverage and exclusions vary.