Commercial Insurance For Sole Proprietor Businesses

There are many types of businesses – even in a village like Ballston Spa, NY – each with their own unique challenges. Even a sole proprietor venture has risks that other businesses do not. Zapp Insurance Agency wants to make sure our local business owners understand the hazards associated with running your business alone, and how commercial insurance can protect the future of your operations.

What Is A Sole Proprietor Business?

When starting a small business, a sole proprietorship is a most common and relatively simple way to go. Sole proprietorship entitles you alone to the profits from your business. This also means you are responsible for losses, debts, and liabilities laid upon your business. Since this business does not incorporate you, the law does not distinguish between you and your business.

Why Do I Need Commercial Insurance For Sole Proprietorship?

Total control of your business can be burdensome. As a sole proprietor, you will be personally liable for your business and that means that your private assets could be at risk to cover damages you’re found responsible for. For example, if you accidentally damage a customer’s property and you do not have commercial insurance coverage then the resulting settlement could come from your personal savings or assets such as your car or house. 

What Kind Of Insurance Is Available For My Business?

Most small businesses need general liability insurance. This covers common risks such as accidental damage, bodily damage, and personal injury (such as slander and libel). Depending on your type of business, consider additional coverage for automobiles used in the operation of your business.

Whether you’re just starting a business or looking to insure an existing sole proprietorship in Ballston, Spa NY, let Zapp Insurance Agency find the right commercial insurance for you today!