Small Business Insurance
Insuring Your Small Business
Regardless of the type of business you start, there are always going to be risks involved. Besides the obvious personal financial risk inherent when transitioning from employee to business owner, there are plenty of other types of danger and threats to your livelihood you will have to face as a business owner that have nothing to do with the quality of your product, your competition, or the economy. A customer could slip and fall while shopping in your store. Thieves could make off with some or all of your inventory in the middle of the night. A fire or natural disaster could force you to close your doors for months. One of your employees could get injured while performing his or her assigned tasks. You could be sued for negligence or professional malpractice. There are other types of insurance beyond liability and property coverage. You may need vehicle insurance for cars or trucks that you or your employees use for business purposes. If you lease your space, you may want or be required to purchase commercial tenant's insurance. Health insurance is a concern, especially if you are leaving a job where your employer picks up part or all of the cost. If you have employees you may in need of affordable group health insurance for you and the people who work for you.
Luckily, there are small business insurance plans available to provide necessary coverage and keep you from having to fold if disaster strikes. Plans are generally reasonably priced for the more common and necessary types of insurance like property and liability. You can also lower your costs by electing higher deductibles. You will want to get quotes from multiple companies and comparison shop. You want to have enough coverage against the most serious threats, but you will probably not need to insure against every possible risk so do not buy more than you need. Please follow the links below for more information about specific types of small business insurance.