Do you own a business in the Metro Atlanta area? Perhaps you’re starting a business this year, and you’re beginning to research all of the different facets of entrepreneurship. It can be a bit overwhelming to begin the conversation on insurance coverage, but taking small steps at first can help you to maintain your sanity. Let’s take a look at and answer a few common questions we hear frequently here at Apex Insurance Services, LLC: what is business insurance, what kind of insurance does my business need, and why does my business need insurance?

What Is Business Insurance and Why Do I Need it?

Simply put, the term “business insurance” encompasses any policy within your portfolio that protects you (the business owner), your property (the business), and your employees. Business insurance, like the businesses they protect, can take many shapes and sizes. For this reason, there is no “one size fits all” approach when it comes to business insurance. Some states will require a certain “minimum” coverage, usually a workman’s compensation plan, but it’s often to the employee’s benefit rather than yours as the business owner. 


Here at Apex Insurance Services, LLC., we recommend that you take the time to form a relationship with an insurance specialist; he or she will be able to make your life much easier in regards to insurance policies and the coverage selection process.

The Different Types of Business Insurance

The Business Owner’s Policy (BOP)

Business Property Insurance

The standard BOP will usually include the following three insurance packages: business property, liability, and income insurances. Business property insurance, as the name suggests, insures your place of business, including the building where you sell goods and services or office building where employees connect with clients over the phone. Your business property insurance policy will include your furniture, tools, equipment, and documents necessary for the operation of your business.

Business Liability Insurance

Liability insurance, also known as commercial liability, is a necessity when it comes to protecting yourself from lawsuits. One example of the utility of liability insurance is the following scenario: a customer trips and falls down a set of stairs within your business, injuring themselves enough to warrant a hospital stay. Liability insurance will allow you to investigate the incident and cover the costs associated with being sued.

Business Income Insurance

The final piece of the BOP package is business income insurance. This insurance policy will, in the event of a “covered loss”, reimburse you for loss of income due to the issue you are dealing with. “Covered losses” vary per insurance agency, so make sure to ask questions of your insurance agent and read the fine print when necessary.

Worker’s Compensation, Unemployment, and Disability Insurances

Some states may require that businesses have one or more of these policies if there are employees working for the business. However, even though a state doesn’t require these policies, they can still be a good idea for your business – in fact, offering these types of benefits to your employees may make employment with your company more favorable.

Income Extension Insurance

For off-premises work, we recommend that your business purchases an income extension insurance policy. This policy will, in the event of damage to your equipment at a job site, allow you to recover the costs of lost income due to being unable to complete your job site’s project.

Commercial Automobile Insurance

If your company lets employees use company vehicles, it will be important that your business insures those vehicles properly. Motorists are all required to have their own state minimum insurance coverage, but you – the business owner – don’t want to be caught paying out-of-pocket costs if something happens to a vehicle you own.

How Do I Know What’s Right for My Atlanta Business?

There’s a good reason insurance experts spend so much time talking to business owners about what they need. It can take some time to uncover every facet of your operations and determine which insurance packages fit your unique requirements. The best way to handle insurance needs for your business is to speak directly with an insurance agent that can get to know both you and your business. Once we understand your needs, we can suggest packages that fit you and your unique company.

Business Insurance Services in Atlanta

Not sure what you need for your Atlanta SMB? Contact the insurance specialists at Apex Insurance Services, LLC. Our agents will help you identify and acquire exactly what you need. We look forward to serving you, your business, and your employees.