Have you just created your own company? Are you ready to start working and making your money? Before you do, here are a few types of small business insurance you need to have.
The entire idea of insurance is to purchase coverage for risks you cannot afford to pay for out of pocket. In other words, you’d rather pay the monthly payments for coverage than to pay for the damage after a fire or incident. You should make sure that you bring a respectable agent into the life of your company as well. They can create a package that can meet all of your needs in one.
You will definitely want to first look into good property and liability policies. Property insurance entails things like your office space and its contents. Everything in the space that you own such as equipment, software, furniture, and appliances can be factored in. Flood and earthquake coverage is also available depending on your area. A liability policy will protect you from the consequences of fires that are caused by negligence on your part. Things like general accidents that can occur and malpractice suits can also be added.
There are also insurances tailored to providing for and attracting employees. Worker’s compensation is mandatory by law if you have any employees at all. This will cover the costs and damages in the event a worker is injured on the job. Offering good health insurance options is good for getting employees as well. It is often difficult to find health coverage on your own outside of work. You could also look into auto insurance for any company vehicles.
Floods, fires, lawsuits, and many other things can ruin a company. Small business insurance is extremely important to protect your investment.
Don’t hesitate to find a reputable agent and buy a custom structured policy.