INSURING SMALL BUSINESSES
While some find the need to only put major companies on insurance, it is also very important to put your small business on insurance as they tend to get affected the most when there’s an unexpected occurring.
Insurance is not only important to your business, but in your other business relationships as well. In this article you will learn a few things such as discovering the many types of insurance coverage available for small businesses and which ones will be more suitable for your business requirements in your location.
- Insurance Coverage For Small Businesses
- Business Property Insurance
- Liability Insurance
- Worker’s Compensation Insurance
- Other Insurance Coverage
- Excess Liability Coverage
- Employment Practices Liability Coverage
- Life Insurance
The purpose of insurance is to transfer a risk that you can afford (i.e. the payment of a premium with no guarantee of its return) to cover a risk you cannot afford. For example, what homeowner does not insure his or her personal residence from damage by fire?
Apart from the important persons like your attorney and accountant, you will also need a professional which will start-up the process. It may be helpful to have one agent who can handle all of your insurance needs. There are policies available that are specifically designed to cover small businesses that, in one package, will cover most of your insurance needs.
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