Owning a business is hard work. You put in a lot of blood, sweat and tears to start your business and make it successful. The last thing you want is to lose it through something beyond your control. This is the main reason why a small business owner should have business insurance. Learn about business insurance, and see what it covers and how it can benefit your business. Business insurance protects your business against damage and losses. This is great for you, the business owner. It protects you from financial risks that may occur because of an injured employee, death of an employee, a natural disaster or a lawsuit. Policy coverage and cost varies among insurers. The main determining factors for these things depend on business size and individual needs. As a business owner, business insurance to consider includes: • Liability Insurance: This protects against lawsuits. It covers legal fees and medical expenses associated with a claim or loss. You may also want a policy for any business vehicles. • Property Insurance: This provides finances when property is damaged due to fire, vandalism, theft or severe weather. • Business Interruption insurance: This covers loss of profit or income due to a loss which is covered. This is beneficial because it helps business owners meet payroll and pay bills. • Workers Compensation Insurance: This is for businesses that have employees. It provides worker benefits if they’re injured on the job. • Health Insurance: This offers health insurance to employees. It is required by law, and is one of the biggest concerns for many employees. Your best bet is to speak with an insurance agent. The agent can help you decide what type of business insurance you need.
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