If You Run a Business in Georgia, These Are the Types of Policies You Need

If you’re an entrepreneur in Georgia, seeking insurance is mandatory to protect your business from different risks. Even if you run a business in a low-risk industry, the Peach State requires you to have some type of insurance policy.

If you’re looking for policies that can shield you from potential liabilities, you have come to the right place. Keep on reading to learn which policies can protect your company.

Insurance Policies to Protect Your Business in Georgia

Note that Georgia follows conditional laws and rules. These laws require that businesses keep a workers’ compensation policy and commercial auto insurance policy.

Workers’ Compensation

In Georgia, if more than 3 employees work for your company, you must buy worker’s compensation for liability coverage. It protects the company and workers in the event of any workplace injury and covers for;

  • Medical expenses
  • Rehabilitation
  • Treatment
  • Permanent disability
  • Lost wages due to injury or illness

Commercial Auto Insurance 

Do your workers use vehicles for work purposes?

If yes, know that Georgia follows a financial responsibility law that requires your business to have an insurance policy for motor vehicles you operate out of your business.

Practices include;

  • Driving to and from work
  • Using the vehicles to transport customers or employees
  • Carting around tools and products

This policy protects your business from paying for;

  • Bodily injury
  • Medical bills
  • Property damage
  • Vehicle damages or theft
  • Legal fees

General Liability Insurance

Whether your business is a startup or an established company, you need general liability insurance.  This particular insurance shields it from allegations and potential claims. This insurance policy typically helps you cover;

  • Bodily injury
  • Property damage
  • Medical expenses
  • Reputational harm

If your business faces a legal suit, it can also help pay for legal charges.

Professional Liability Insurance

Professional liability insurance can cover defense costs and damage when you’re held liable for negligence. Negligence can include omissions and errors.

Just about any party can hold your business liable if they think your services or consultancy caused them any suffering. The professional liability, regardless of any merit to the liability claim, can cover for;

  • Negligence — Saves your business from paying for actual omissions and errors.
  • Defense costs – Pays for the defense team you need to encounter legal issues when a party alleges a claim.

Cyber Liability Insurance

The number of cyberattacks is on the rise. According to a recent analysis, they have caused damages worth more than $6 trillion in the last few decades. Whether you’re a startup or an experienced service, a single case of cyber intrusion or data breach can become a serious problem. This is when you need cyber liability insurance to protect your business from;

  • Legal expenses and fees
  • Ransomware payments
  • Recovering compromised data
  • Restoring personal identity of impacted clients
  • Monitoring clients of fraud
  • Paying judgments and settlements
  • Repairing damaged systems
  • Hiring a qualified PR team
  • Lost revenue from interruptions

Summing Up

All in all, the article explains the flexible and mandatory business insurance you need to run a business in Georgia. If you are looking for great rates on your business insurance in Georgia, look no further! Here we offer competitive and quality rates from some of the top carriers in the nation. Fill out our online quote form below to get started.


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