Most business owners know they need general liability and property insurance. But what about the coverages that aren’t required, often “optional” or “add-on”? Are they necessary?
Here’s a closer look at some of the most valuable optional coverages and why they’re worth considering.
If a fire, storm, or other covered disaster forces your business to close temporarily, how will you pay the bills? Business interruption insurance can help replace lost income and cover ongoing expenses like rent, payroll, and utilities during a covered shutdown.
This type of policy:
• Helps maintain cash flow during recovery
• Covers temporary relocation costs
• Can apply during forced closures due to natural disasters or structural damage
Umbrella policies extend your liability coverage beyond the limits of your standard policies.
If your business is sued and the damages exceed your general liability or auto liability limits, commercial umbrella insurance steps in. This is especially important for:
• Companies in the public eye
• Businesses working with hazardous materials or heavy equipment
• Owners who want extra peace of mind
This policy covers the cost of repairing or replacing equipment that fails due to mechanical or electrical issues (not wear and tear).
It’s ideal for businesses that rely on:
• Refrigeration units (like restaurants or convenience stores)
• Boilers or HVAC systems
• Specialty manufacturing tools
No matter your industry, if you store customer data or rely on digital systems, you’re at risk for a cyberattack.
Cyber liability insurance helps cover:
• Data breach response and notification
• System restoration costs
• Legal fees or regulatory fines
Every business is different. At Roehr Insurance, we work with business owners every day to make sure they have the coverage they need to minimize risk and keep them protected. While some insurance policies are a requirement – whether by law or by lenders - others fall into the “optional” category, but that doesn’t mean they aren’t essential.
Coverages like business interruption insurance, cyber liability, and commercial umbrella policies can make a huge difference when the unexpected happens. Taking time to review these options can give you peace of mind, knowing that your business is prepared for more than just the basics.
