Whether you have a successful or an upcoming business, an unfortunate disaster could strike at any moment and force you to shut your doors. This is why companies are encouraged to carry business insurance which can help to mitigate the risk of unforeseen damage.
Here are 5 reasons why your company, small or large should have business insurance.
Liability – Did you know if a customer slips and falls while on your business premises or if your product has a defect that can cause injuries to a customer and you do not have insurance, this could spell the end of your business? Additionally, if a company car is involved in an accident and someone is injured, that could be disastrous as well. That’s why Business Liability Insurance ensures your company is covered to help stop closure in the event any of the above occurs.
Catastrophic Loss – Did you know Business Insurance protects a business from closing due to any catastrophic losses such as destruction of asset or property be it nature related fire or flood or by human-related events such as civil disturbance? When a company carries insurance against these types of losses, closure or loss are only temporary instead of permanent.
Theft – Did you know that as a new business owner you’re a prime target for thieves or vandalism? Items such as new computers, furniture and other office equipment can be costly, significant investments. Even established businesses that have just undergone renovations and upgrades are a target. Replacement insurance protects a business in the event its equipment is stolen.
Litigation – Tip to know: Things don’t often go the way they should and as a result, litigation is often used strategically to protect or identify liability. If the work you do for a client is a part of a larger contract, your client might be obligated to sue you in order to eliminate their liability. In other words, your client may have no other legal option than to initiate a lawsuit against you. Without proper insurance, you might find yourself paying hefty legal fees to defend yourself.
Peace of mind – Wishful thinking, telling yourself that this can’t happen to you does not provide as much coverage as a real plan. There are many factors outside of your control and the best way to assure peace of mind is to take responsible action. An experienced agent can help you discern what is vital and essential for the longevity of your business to protect you from any of the above.
There are many areas of business insurance coverage, get a free quote today from one of our specialist agents. Click now http://bit.ly/1RGP4yS.