As a small business owner of both online and offline businesses, I can attest to the importance of insurance, especially when involving trades that heavily involve the use of mobile equipment and carry with them a high degree of physical interactivity with human beings and society at large.
The lack of insurance, whether in one’s personal or entrepreneurial life, has led to disasters in people’s lives, many of which I have personally witnessed. I believe one can never be too insured. But in addition to the amount, one must be insured appropriately – i.e. carry the right type of insurance that caters to one’s unique situation.
In this article, our contributor has done a good job highlighting some of the types of insurance coverage applicable to small businesses. This is not a comprehensive list by any means, but a good starting point that hopefully will stimulate your thought process in determining what insurance is most suitable for you. I hope you find it helpful.
If you’re a small business owner, your biggest concerns may be bringing in cash and growing your sales. While it’s true that these efforts are integral parts of a successful business, there is one more consideration to keep in mind: Insurance.
Considered a luxury to some small businesses due in part to costly premiums, insurance should be considered a necessity for all businesses regardless of size and capital. After working so hard to get your business off the ground, why wouldn’t you ensure protection of your assets and investments?
For some small business owners, price is the largest obstacle to obtaining the various forms of suggested business insurance. While it’s true that the premiums are pricey, they are an important part of a business budget and should not be overlooked.
There are many types of insurance available for small business owners. The broad range of coverage, premium costs and packages available nearly guarantees there are options to fit even the leanest of budgets. If you own a small business, here are a few insurance types you won’t want to be without:
These are just a sampling of the many insurance options available for small business owners. When it comes time to buy your policy, make sure you’ve educated yourself and have chosen the correct coverage for your needs.