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Every year, Small Business Saturday spotlights the dedication and innovation of small business owners and entrepreneurs. At East Street Insurance, we understand the commitment it takes to build and sustain a business, and we’re here to help you protect what matters most. Whether you’re running a storefront, office or online enterprise, understanding your insurance options is essential for peace of mind and long-term success.
Why the right insurance matters for small businesses
No matter your size or industry, risk is part of business. A single accident, lawsuit or unexpected event can put your assets—and your future—at stake. Business insurance acts as your safety net, helping you weather storms and bounce back quickly.
Common risks for small businesses include:
- Property damage (fire, theft, natural disasters)
- Customer injuries on your premises
- Cyber-attacks and data breaches
- Employee accidents or injuries
- Professional errors or omissions
- Vehicle accidents during business operations
Essentials to consider for your business
Let’s break down the insurance options offered by East Street Insurance and what they really mean for your business:
1. Business Owners Policy (BOP)
A BOP combines protection against two major risks:
- Property coverage: Safeguarding your building, equipment, inventory and other assets from fire, vandalism, theft and covered disasters.
- General liability: Providing protection from third-party claims if a customer is injured or their property is damaged due to your business.
A BOP is often more cost-effective than buying property and liability coverage separately and can be tailored to fit your needs.
2. Commercial auto insurance
Does your business own or use vehicles to deliver goods, transport employees or for other business operations? Personal auto coverage may not protect against business-related accidents.
Commercial auto insurance covers business vehicles, drivers, and can help pay costs related to collisions, injuries or property damage. For example, this could come in handy should your employee get into a fender bender while delivering a product. Without commercial auto insurance, you may be stuck paying for something like this out of pocket.
3. Umbrella liability insurance
All insurance policies have coverage limits. In the event a claim exceeds your policy limits, an umbrella insurance policy steps in to provide extra protection for "worst-case" scenarios.
Think of it as your financial backup, helping guard your business against devastating lawsuits or claims.
4. Industry and profession-specific insurance
Not all businesses are alike. You may need:
- Professional liability/errors and omissions: If advice or services you provide could cause financial harm.
- Product liability: For manufacturers or retailers whose products may cause harm.
- Cyber insurance: For businesses handling sensitive customer data or transactions.
Ask your agent which coverages fit your business best.
Risk management tips for entrepreneurs
Insurance is a critical tool, but prevention matters too. Here are some ways to lower your exposure and potentially cut costs:
- Keep good records. Maintain up-to-date inventories, contracts and documentation for claims or audits.
- Train staff. Safety protocols and customer service training can reduce accidents and disputes.
- Secure your property. Invest in security, fire prevention and regular maintenance.
- Update your policy. As your business grows, review your coverage with your agent annually.
- Bundle policies. East Street Insurance offers several discounts for bundling products—helping make insurance more affordable.
Ready to protect your business?
This Small Business Saturday, celebrate your achievements and make sure your business is covered for whatever comes next. Getting started is easy: answer a few quick questions and receive a personalized quote for business insurance from East Street Insurance.
Visit our website or call 833.327.8787 to connect with one of our agents.
Want to learn more or get a quote? Get started here.