Business insurance provides essential protection to help create a secure, viable and compliant enterprise. Put another way, it protects your business when the business is sued for negligence. Also, if your insurance company is aware that you are searching for new quotes, the underwriter should work aggressively with you to secure the best rates available despite the prior losses.
Taking out too much coverage can be just as damaging to a small business as not taking out enough. The same applies to health insurance coverage: if an employee gets sick, it will affect the business adversely. Comprehensive general liability insurance is necessary for your home-based business if you plan on having clients or customers visit your home.
In addition, many lenders require you to have life insurance before giving you a business loan. Depending on your career and the nature of your relationship with the general public it is possible you will have to combine a form of Public Liability Insurance with other types of insurance.
Directors’ and officers’ liability insurance covers the legal and compensation costs of claims made against the director, partner or officer of your business. Business insurance covers your business from financial insecurity resulting from unexpected circumstances.
Depending on risks to your business, you may add riders to your homeowners’ policy to cover normal business risks such as property damage. You control your business, and now you can have control over your business insurance. Our expert team understands the complexities of workers compensation and will support your business and injured workers through the claims management process.