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Small business insurance is a cost that many entrepreneurs don't think about when they're first planning their business. However, Insurance costs are going to be a perennial presence for the lifetime of your business. It pays to anticipate the cost of insurance and plan for this expense as a normal and predictable cost of doing business.
To understand why you need insurance, you first need to understand what insurance does for you and your business. Insurance is designed to protect you and your business from liability. If a customer is injured or damaged in some way and it's found in a court of law that you, your property, or your employee are at fault for this damage, you will be held liable for compensating the litigant for their damages. Liability insurance and other types of small business insurance pay that price for you in the event that you are sued, in effect saving your business from possible bankruptcy.
Consider securing these types of insurance when you start your small business.
General Liability Business Insurance
General liability insurance is vital for retailers. This type of insurance protects you against financial liability and lawsuits if something happens to a customer inside your brick and mortar establishment. General liability insurance is a business insurance cost that is worth every penny you pay for it. If your product or service causes damages to a customer, your liability insurance pays for lawsuit settlements so those costs don't destroy your business. This type of insurance covers you in case someone obtains bodily injury, personal injury, or has their property damaged in your business.
This type of insurance is very important for all business owners even if you have just one employee. This is an insurance product that is an absolute must for anyone of any size of business. In most states, it is a legal requirement to carry Worker's Compensation Insurance if you have a business at all. It's as important to carry Worker's Compensation as it is to pay unemployment insurance.
Small Business Owners Insurance
this type of insurance protects your physical location, commercial property, and personal property. It's a combination of property insurance and liability insurance that is combined into one Insurance product specifically designed for small business owners. Small business owner's insurance is most common among small retailers and medium-sized businesses like wholesalers, retail stores, construction industry general contractors, restaurants, and other such businesses.
Commercial automobile insurance
if you have a commercial fleet of vehicles you need to have commercial Auto insurance. If you have any vehicle that you use for business you need to have commercial automobile insurance as well. It's a legal requirement to have commercial auto insurance if you use your vehicle for business at all.
There are multiple types of small business owner insurance that you need to have to operate legally and safely. Your business insurance cost might be a small monthly bill, but it covers massive expenses in the event that you need to use it. Small businesses insurance is designed to save your business in the event of a disaster. It's always a good idea to have insurance if you're in business at all. Insurance can ease the burden ease the liability of doing business in the modern world.
There's no one size fits all Insurance product that's perfect for all small businesses. If you're in business you need an insurance policy or bundled insurance policies that are hand-selected for your unique business situation. A dedicated insurance agent can find you the perfect combination of insurance policies that can eliminate liability and protect you and your business from financial disaster.
The experienced insurance agents at Central Sequoia Insurance Company are standing by to take your call and help you find the best policy for your needs. We have competitively priced insurance plans and bundle savings for small business owners. We are experts at providing Insurance products and protecting our customers from liability issues. Contact us today to learn more about our comprehensive and affordable insurance products and to get a quote.