Top 5 Business Insurance Gaps.

Is your business adequately insured? Check the five most frequently neglected insurance areas below to find out.

#1

Cyber Insurance

If your business collects customer or client information, you are at risk of data theft or exposure. In the event of a data breach, cyber insurance can cover legal expenses, judgments, or settlements related to the breach. It can also cover you for things you might not be expecting––like notifying clients, offering credit monitoring services, paying computer forensic experts, or hiring a PR firm.

#2

Business Interruption

Business interruption is just what it sounds like—coverage that pays for expenses and lost income if you’re temporarily closed due to damage or theft. It’s often included under your business owner’s policy but double-check to make sure that it's enough to cover all of your expenses over an extended period of time.

#3

Employment Practices Liability

While no one wants to think about an employee bringing them to court, it's critical to be protected from this potentially devastating event. Employment practices liability is a type of insurance that covers your business in case an employee sues your business for reasons including hiring practices, wrongful termination, harassment, or discrimination. This insurance also covers attorney fees and damages.

#4

Equipment Breakdown

Don’t get sidelined by mission-critical equipment breaking down. Going beyond the property coverage offered in your business policy, this type of policy can also handle repair, replacement, and lost income.

#5

Umbrella

General liability and commercial auto policies have standard limits of only $1 million—and when there’s a problem, that doesn’t go very far. Umbrella coverage expands your coverage, protecting your business against large losses.

Are you missing coverage and need to fill in a few gaps? Reach out to

Terry Stotka at tstotka@dhw-ins.com or 925.922.2200.