Insurance is one of the most talked-about topics around. People often discuss their health insurance, homeowner’s insurance, life insurance, and even their vehicle insurance.
Business owners, on the other hand, often have to wonder whether they have the right insurance. Here are three things you should consider to decide whether you have the insurance your small business needs.
Do you have everything you should?
Depending on the nature of your small business, there are certain coverages you may or may not need. What’s important to consider is whether or not your coverage is right for you. For example, some small businesses have company cars, which means an auto policy is necessary.
General liability insurance is also a necessity for just about any small business, especially considering the fact that lawsuits and liability issues can surface in almost any industry. What’s important is to figure out what your business needs and doesn’t need and make concessions where necessary.
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No matter what type of small business entity you are running, your insurance policy is not right for you if it doesn’t include workers compensation. Why? Because anyone who has an employee on the payroll needs to pay workers comp for liability coverage.
If an employee gets injured on the job, he or she can file a claim that requires you to become financially responsible for the injury. With workers comp, you aren’t liable. Your injured employee will receive compensation from the payments you send to workers comp on his or her behalf.
Commercial property insurance
Another essential element of any small business insurance policy is commercial property insurance. This protects your business against anything from wind damage to theft or a fire. You’ll want this type of insurance to protect you, your assets, and your business from destruction.
Finding a reputable insurance agent
US Insurance Net is a website that will connect you with reputable insurance agents in your region — for example, the Las Vegas area. Once you have a reputable insurance agent, you’ll be more likely to have the kind of insurance policy you need for your small business.
A reputable agent will take care of all the details for you, answer your questions, and protect you and your business. That’s why it’s imperative to have this person on your team.
Small business insurance is a must if you’re going to start a company. Even the slightest mishap in your office can cause your business to fail and perhaps even your personal finances to suffer. Protect yourself and your business with the right small business insurance policy.