Ohio Business insurance for professional service enterprises
Are you an accounting or legal professional and thinking of opening your own practice? In that case, getting the most suitable Ohio business insurance in place is important right from the start. This includes:
- Property – any property your enterprise owns should be insured. This includes buildings and all contents such as furniture, and computer equipment. When you rent premises you should insure any improvements or alterations you have made to your offices as well as the contents. You may also have the option of adding endorsements – such as coverage for electronic data loss.
- Business interruption – there are occasions when businesses have to temporarily close their doors due to a disaster or peril. Business interruption insurance is designed to provide some financial protection if your enterprise cannot operate for a time due to a covered peril, by providing compensation for lost income and ongoing expenses.
- Liability insurance – this is particularly important for professional practices. While general liability coverage is important in case of accidents and personal injury claims, professional liability or “errors and omissions” coverage is vital to have. This is designed to provide financial protection in the case that a client considers professional advice provided by you has caused him/her some harm or loss, and decides to seek recompense.
- Other insurance – you will need workers’ compensation insurance if you have employees, and auto insurance for your commercial vehicle(s).
Business insurance can be complex, and to help ensure you get the right Ohio business insurance for your business, you might be best to consult with an expert on the subject. Contact us for more information on insuring your professional practice.