Monday, November 3, 2014
Insurance is something that
small business owners definitely need, but sifting through the
unfamiliar jargon can make anyone’s head spin. What do you need
coverage for? Here are three, put simply:
Insure the Things You Own
First, you need coverage for
your tangible property. This can be your physical store, the
equipment you have, your inventory, and other things you use to run
your business. In case of unfortunate events where these are damaged,
your insurance can help you recover from the loss.
Insure the People Who
Work for You
When you hire people to work
for your business, you are assuming responsibility for them.
Job-related injuries that may befall them, for example, are one of
the things that need coverage.
Insure Against Unforeseen
Events
You may be the most careful
business owner on the planet, but you can never fully control the
things that happen during your operation. Someone may get injured
inside your business premises, your product can cause unintentional
harm to its users, or someone may sue you for negligence. It’s
always a wise move to be prepared for these scenarios.
These three are just some
considerations you need to think about as you shop for the right
insurance policy. Consulting with a professional insurance agent,
however, is still the best way to understand and determine the right
blend of protection you need as a small business owner.
