Insure The Future Of Your Small Business

Owning your own business comes along with a whole slew of responsibilities. One of the most important responsibilities of being a business owner is planning and investing in your future. Taking the necessary precautions to insure every angle of your organization is wise.

Business insurance types

Unfortunately, there is no umbrella insurance policy set up to cover every possible malfunction of business. In fact, there are more than ten different types of business insurance. Here is a brief breakdown of a few of the most vital types of insurance you’ll need to protect your business.

Workers’ Compensation

Workers’ compensation insurance is required by law for most business owners. Even if you have a business that falls in the small percentage that doesn’t legally require workers’ comp, you should always invest in this coverage.

It is absolutely unfair and unethical of a business owner to neglect the responsibility to support their employees in the event of an injury on the job. Take care of your employees in their time of need, and invest in workers’ compensation insurance.

Professional Liability

If you’re producing and selling a product or service to the general public, you’ll need to be covered by a professional liability insurance policy.

Also referred to as errors and omissions insurance, professional liability insurance protects your business against claims of negligence due to harm or injury caused by misuse or malfunction of your product or service.

Depending on the industry in which you operate, professional liability insurance could be a life saver. A small monthly investment along the way could save your organization should an unfortunate injury occur.

Property Insurance

Property insurance is a must for all business owners. You need to protect the physical property necessary to conduct business.

Your signs, all or the organization’s inventory, office furniture, mechanical equipment, and anything else your business needs to run properly is covered under your property insurance policy. In the event of a fire, storm, or burglary, your property insurance will financially compensate your business.

Product Liability

If your organization makes a product to sell on a general market, you’ll need the protection provided by product liability insurance. In the even that your product causes harm to someone, product liability insurance will cover the financial damages imposed.

Even if your business is run with a pristine efficiency and quality control, accidents and malfunctions do happen. Don’t think you’ll be the one to escape the odds, and invest in a product liability insurance policy.

Business Interruption

Business interruption insurance is designed to protect your business in the event of a disaster or catastrophe situation. Should a hurricane roll through and put your business out of operation for a month for cleanup, your business interruption insurance will reimburse you for your lost funds.


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