When it comes to protecting your business, commercial insurance is a must. Most business owners are familiar with general liability, property insurance, and workers’ compensation. However, other types of coverage are designed to safeguard your company from unexpected risks. At Capalbo Insurance Group LLC in South Kingstown, RI, we want to make sure you know all your options. Here are a few lesser-known commercial insurance products.
Cyber Liability Insurance
If your business stores customer data, processes payments online or relies on digital systems, it could be a target for cybercriminals. Cyber liability insurance helps cover financial losses related to data breaches, hacking, and other cyber threats. It can also assist with legal fees, customer notifications, and crisis management to protect your company’s reputation.
Employment Practices Liability Insurance (EPLI)
Even with the best policies in place, companies can face employee-related lawsuits. EPLI provides protection if your business is accused of wrongful termination, discrimination, harassment, or other employment-related claims. Legal defense costs alone can be significant.
Equipment Breakdown Insurance
A sudden mechanical failure could halt operations if your business depends on specialized equipment. Equipment breakdown insurance helps cover repair or replacement costs so you can quickly get back to business. This is especially useful for industries like manufacturing, healthcare, and food service.
Business Interruption Insurance
Disasters like fires, storms, or other unexpected events can temporarily shut down a business. Business interruption insurance helps cover lost revenue and ongoing expenses while the company recovers, ensuring its financial stability.
Your business is unique, and so are its risks. If you’re unsure whether you have the proper protection, Capalbo Insurance Group LLC in South Kingstown, RI can help. Contact us today to explore your options and safeguard your company’s future.
