If you own a business, you should review the types of insurance policies available to protect your investment/enterprise.

While most business owners have the standard liability, worker’s compensation, and commercial property insurance policies, simply relying on these policies could mean that there are gaps in your coverage. Learn about these three types of insurance you might not be familiar with and consider whether they’d be a good fit for your business.

1) Employment Practices Liability Insurance

This type of policy protects employers against claims filed by employees, such as discrimination, wrongful termination, harassment and so on. While many large corporations tend to have a plan for dealing with employment lawsuits, many small or new businesses can also be susceptible to these claims. If the claim becomes a lawsuit, Employment Practices Liability Insurance can cover legal defense costs for the insured.

2) Income Stabilization Weather Insurance

While most people are familiar with the insurance that covers natural disasters (hurricanes, earthquakes, tornadoes, etc.), many are unaware that there are also insurance policies that cover damage resulting from less extreme weather. Income Stabilization Weather Insurance covers profit lost due to unfavorable weather conditions. This type of insurance is particularly helpful for businesses that depend on foot traffic, or for outdoor businesses like ski resorts, golf courses, and restaurants.

3) Cyber Liability Insurance

Cyber Liability Insurance can be a necessity for companies that handle much of their business on the internet or any business that could be interrupted by data breaches.  This type of insurance protects businesses from losses caused by data breaches and covers the cost of customer notification and credit monitoring. Some policies may also cover losses resulting from business being interrupted due to a data breach.

Protecting against any possible cyber dangers might be the difference between a thriving enterprise and failed company.  For help and advice in crafting your most comprehensive business insurance package, contact us at Randy Jones Insurance Services in Pleasanton, California to find the right insurance policy for your needs.