Freeway Insurance for Small Business Owners: Policies Explained

Running a small business is no easy feat, especially in today’s fast-paced and unpredictable economic climate. From supply chain disruptions to cyber threats, small business owners face a myriad of risks that could derail their operations. That’s where Freeway Insurance comes in—a trusted provider offering tailored insurance solutions to protect entrepreneurs from financial pitfalls. In this guide, we’ll break down the essential policies every small business owner should consider, how they work, and why they’re crucial in 2024.

Why Small Business Insurance Matters More Than Ever

The global business landscape has shifted dramatically in recent years. The rise of remote work, increasing cybercrime, and extreme weather events have made insurance not just a safety net but a necessity. Without proper coverage, a single lawsuit, data breach, or natural disaster could wipe out years of hard work.

The Rising Cost of Business Risks

• Cyberattacks: Small businesses are prime targets for hackers, with 43% of cyberattacks aimed at SMBs (Small and Medium-sized Businesses).
• Legal Liabilities: Employee lawsuits and customer claims can cost thousands—sometimes millions—in legal fees.
• Supply Chain Disruptions: Global instability continues to impact inventory and delivery timelines.

Freeway Insurance helps mitigate these risks with customizable policies designed for modern challenges.

Key Insurance Policies Every Small Business Needs

1. General Liability Insurance

What It Covers:
- Third-party bodily injury (e.g., a customer slips in your store).
- Property damage caused by your business operations.
- Advertising injuries (libel, slander, copyright infringement).

Why It’s Essential:
Even a minor accident can lead to expensive lawsuits. General liability insurance ensures you’re protected against common legal claims.

2. Commercial Auto Insurance

What It Covers:
- Vehicle damage from accidents, theft, or vandalism.
- Medical expenses for injured drivers or passengers.
- Liability for property damage or bodily injury caused by your business vehicles.

Why It’s Essential:
If your business relies on transportation (deliveries, client visits, etc.), standard auto insurance won’t cover work-related incidents.

3. Workers’ Compensation Insurance

What It Covers:
- Medical bills for employees injured on the job.
- Lost wages during recovery.
- Legal fees if an employee sues over a workplace injury.

Why It’s Essential:
Most states require businesses with employees to carry workers’ comp. Skipping it could result in hefty fines or lawsuits.

4. Cyber Liability Insurance

What It Covers:
- Data breach recovery costs.
- Ransomware attacks.
- Legal fees from privacy lawsuits.

Why It’s Essential:
A single cyberattack costs small businesses $25,000 on average—enough to shut many down permanently.

5. Business Interruption Insurance

What It Covers:
- Lost income if your business must close temporarily (e.g., after a fire or natural disaster).
- Operating expenses like rent and payroll during downtime.

Why It’s Essential:
Disasters don’t just damage property—they halt revenue. This policy keeps your business afloat during recovery.

How Freeway Insurance Stands Out

Affordable & Customizable Plans

Unlike one-size-fits-all providers, Freeway Insurance offers flexible policies that scale with your business. Whether you run a food truck, an e-commerce store, or a consulting firm, they tailor coverage to fit your budget.

Fast Claims Processing

Time is money, especially for small businesses. Freeway’s streamlined claims process ensures quick payouts so you can get back to business faster.

Expert Guidance

Navigating insurance jargon can be overwhelming. Freeway’s agents simplify the process, helping you choose the right coverage without overpaying.

Real-World Scenarios: When Insurance Saved Businesses

Case 1: The Coffee Shop Lawsuit

A customer sued a small café after burning themselves on hot coffee. Thanks to general liability insurance, the business avoided bankruptcy by covering legal fees and settlement costs.

Case 2: The Ransomware Attack

A boutique marketing firm lost access to all client data after a cyberattack. Their cyber liability policy covered recovery services and client notification costs, saving them from closure.

How to Get Started with Freeway Insurance

1. Assess Your Risks – Identify your business’s biggest vulnerabilities (e.g., physical risks, digital threats).
2. Compare Policies – Freeway offers free quotes online, making it easy to compare options.
3. Consult an Agent – Their experts can recommend the best coverage based on your industry and size.

The right insurance isn’t just a precaution—it’s an investment in your business’s future. With Freeway Insurance, small business owners can operate with confidence, knowing they’re protected against the unexpected.