Why Small Businesses in New Bern Need Business Insurance

Running a small business in New Bern, NC, can be exciting and rewarding, but it also comes with risks. Whether you’re just starting out or you’ve been in business for years, protecting your investment should be a top priority. One of the best ways to safeguard your business is by having the right business insurance.

Group of five cheerful diverse clothing designers standing with their arms crossed in a shop at wor.

This article will explain why comprehensive business insurance in New Bern is essential for small businesses and how it can help you stay protected. We’ll also break down the types of coverage available and why Robinson & Stith Insurance is your go-to provider for customized plans.

Why Business Insurance is Critical for Small Businesses

When you own a small business, anything can happen. Accidents, natural disasters, theft, and lawsuits can all lead to serious financial losses. Without the right insurance, you might have to pay for damages out of pocket, which could put your business in jeopardy.

Business insurance in New Bern can cover these unexpected events, helping to keep your business afloat even when things go wrong. It acts as a safety net, protecting your business assets and ensuring that you can recover quickly after an incident. Here’s why every small business in New Bern needs comprehensive insurance:

1. Protects Against Natural Disasters

New Bern is a coastal town, and while its location is beautiful, it also puts local businesses at risk for hurricanes and flooding. In recent years, hurricanes have caused significant damage to businesses across Eastern North Carolina. Business insurance with property coverage can protect your physical assets, such as buildings, equipment, and inventory, from storm damage.

Many business owners may assume that their basic insurance covers these risks, but in many cases, additional policies like flood insurance or business interruption insurance are needed. Business interruption insurance can be especially helpful as it covers lost income while your business is closed for repairs.

2. Safeguards Your Employees

Portrait of a group of young and senior business people having a meeting in the office. Teamwork and success concept

If you have employees, it’s your responsibility to keep them safe. But even in the safest workplaces, accidents happen. Workers’ compensation insurance is required for most businesses and helps cover medical expenses, lost wages, and rehabilitation costs for injured employees.

By having proper workers’ compensation insurance, you’re not only complying with North Carolina laws, but you’re also showing your team that you care about their well-being. This can help foster a positive work environment and retain valuable employees.

3. Reduces the Impact of Lawsuits

Lawsuits can happen to any business, no matter how careful you are. A customer might slip and fall, or you could face a dispute over a contract. Legal fees, settlements, and judgments can add up quickly, leaving your business in a financial hole.

Liability insurance protects you from these risks. General liability insurance covers bodily injury and property damage claims, while professional liability insurance (also known as errors and omissions insurance) covers you if you make a mistake in your services. Both types of liability insurance are crucial for protecting your business from expensive lawsuits.

4. Protects Against Cyber Threats

More and more businesses are operating online, which brings new risks. Cyberattacks, such as hacking and data breaches, can harm your reputation and cost you money. Cyber liability insurance can help you recover from these incidents by covering the costs of notifying customers, restoring data, and managing legal fees.

With businesses in New Bern increasingly relying on digital operations, having cyber liability coverage ensures that you are protected from the growing number of cyber threats.

Types of Business Insurance Coverage for Small Businesses in New Bern

Now that you understand why business insurance is important, let’s look at the types of coverage available for small businesses in New Bern:

General Liability Insurance: Covers third-party bodily injuries and property damage claims.
Commercial Property Insurance: Protects your business’s physical assets, such as your building and inventory, from disasters like fire, storms, or theft.
Workers’ Compensation Insurance: Covers medical expenses and lost wages for employees injured on the job.
Business Interruption Insurance: Helps you cover lost income if your business is forced to close temporarily due to a covered event, such as a hurricane or fire.
Commercial Auto Insurance: Covers vehicles owned by your business, as well as any accidents or damages that occur while driving for work-related purposes.
Professional Liability Insurance: Protects your business from claims of negligence, mistakes, or failure to perform a service properly.
Cyber Liability Insurance: Covers the costs of recovering from a data breach or cyberattack, including legal fees and notification costs.

Each business is unique, so it’s important to work with a trusted insurance provider that understands your needs and can customize a plan for your business.

The Importance of Customizing Your Business Insurance

Small businesses in New Bern vary widely, from retail stores to restaurants to professional services. A one-size-fits-all insurance policy won’t give you the protection you need. That’s why it’s essential to customize your business insurance based on the specific risks your business faces.

Happy man talking to his wife before signing a contract with insurance agent during the meeting in the office.

For example, if you run a restaurant near the water in New Bern, you’ll want to make sure you have flood insurance, general liability, and coverage for food spoilage due to power outages. On the other hand, a small consulting firm might need professional liability insurance and cyber liability protection for dealing with sensitive client data.

At Robinson & Stith Insurance, we work closely with business owners to evaluate their risks and recommend the right coverage. We know the local market and can tailor your insurance to ensure that you’re covered in all the right areas.

How Robinson & Stith Insurance Can Help

With so many types of business insurance in New Bern, it can be difficult to know which policies are best for your small business. That’s where Robinson & Stith Insurance comes in. As a locally owned and operated insurance agency, we specialize in helping businesses in New Bern and Eastern North Carolina find the coverage they need.

Here’s why you should trust us with your business insurance:

Local Expertise: We understand the unique risks that New Bern businesses face and can recommend coverage to match.
Customizable Plans: We don’t believe in cookie-cutter insurance. We work with you to create a policy that fits your business’s needs.
Experienced Agents: Our team of experienced insurance agents is here to answer your questions and help you through the process.
Long-Standing Reputation: With decades of experience, Robinson & Stith Insurance has earned the trust of businesses throughout New Bern.

Get Your Business Insurance in New Bern Today!

Don’t wait until disaster strikes. Protect your business with comprehensive business insurance in New Bern from Robinson & Stith Insurance. Whether you need general liability, commercial property, or workers’ compensation coverage, we have the experience and local knowledge to create the right plan for your business.

Contact Robinson & Stith Insurance today for a consultation and let us help you secure the future of your business.