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Need help, have a question, or want to update a policy? Dependable Partners’ service team is one call or email away.
Our representatives handle everything from claims guidance to billing and coverage changes with quick communication. Reach out anytime and feel confident that your insurance is in capable hands.
Frequently Asked Questions
Business insurance is a collection of coverages designed to protect a company from financial losses related to property damage, lawsuits, employee injuries, cyber incidents, and other unexpected events.
Most businesses do need insurance, whether it’s legally required, contractually required, or simply necessary to protect the company’s assets and future. Even small businesses face risks every day; a single claim or lawsuit can be financially devastating without proper coverage.
In many cases, clients, landlords, lenders, and project owners will require proof of insurance before doing business with you.
While coverage needs vary by industry, the most common types of business insurance include:
- General Liability Insurance – Covers third-party bodily injury, property damage, and advertising injury claims
- Commercial Property Insurance – Protects buildings, equipment, inventory, and physical assets
- Workers’ Compensation Insurance – Covers employee injuries and lost wages (required in most states)
- Professional Liability (Errors & Omissions) – Covers claims related to professional mistakes or negligence
- Commercial Auto Insurance – Covers vehicles used for business purposes
- Cyber Liability Insurance – Protects against data breaches, cyberattacks, and ransomware
- Business Owners Policy (BOP) – A bundled policy combining liability and property for eligible businesses
The right combination depends on your operations, industry, and risk exposure.
General liability insurance for contractors and construction firms typically includes:
- Bodily Injury: e.g., if a visitor or third party is injured on the jobsite.
- Property Damage: e.g., accidentally damaging a client’s property.
- Completed Operations: if issues arise after work is finished, such as faulty workmanship causing damage.
- Legal Defense & Settlements: covering attorney fees, court costs, and settlements.
- Advertising Injury: such as claims of defamation or copyright infringement in your marketing.
Project owners, general contractors, and property managers often require proof of this coverage before awarding jobs. It demonstrates professionalism, protects all parties from risk, and ensures you can win contracts without unnecessary liability exposure.
Business insurance provides both financial protection and peace of mind. Key benefits include:
- Protecting your company from costly lawsuits and claims
- Helping cover repair or replacement costs after a loss
- Ensuring business continuity after unexpected events
- Meeting legal, contractual, and licensing requirements
- Enhancing credibility with clients, vendors, and partners
Ultimately, insurance helps businesses survive major setbacks that could otherwise force them to close.
The best time to get business insurance is before you need it, ideally when starting your business or before signing contracts, hiring employees, or acquiring assets.
You should also review or update coverage when:
- Your business grows or changes operations
- You add employees or vehicles
- You sign new contracts or take on larger projects
- You expand into new locations or services
Working with an experienced commercial insurance advisor ensures your coverage aligns with your actual risks, not just minimum requirements.