Small Business Insurance Tips You Can’t Afford to Miss

Insurance tips for protecting your small business.

When you run a business, you’re exposed to many more risks than you are when working for someone else. You have more responsibilities and assets to protect. Even so, there are plenty of reasons why to run your own business. Driven by an entrepreneurial spirit and a desire to bring to market a unique idea or to offer a specific skill, there are 28 million small businesses in the US, accounting for 54 percent of all sales.

With so much at stake, insuring your investment, yourself, employees and property the right way is one of the most important decisions every owner must make. From commercial auto and property to workers’ comp, there are a lot of considerations. So, where to start?

Know the rules. Check with your state’s Department of Insurance about which coverage is required of small businesses. You’ll need to ensure you keep up to date with new policies and rules to protect your business, too.

Imagine the unimaginable. No one wants to think of their small business in ruin or financial strain. However, this step does help to protect your business in the long run. Once you know your risks and how your business would manage in an emergency, you can work on improving these two aspects. Consider fires, slips and falls, loss of income, defective products, injured employees, and equipment breakdowns. Look at each step of your business, imagine the worst, and then protect against it.

Talk to a reliable insurer. If you don’t know what coverage your business needs, it can be easy to hand it off to an insurance agent and hope for the best. However, you don’t want to be paying for coverage that you need or have limits that are far below what your business demands. Talking to a reliable and professional insurer will help to determine not only the right policies for your business but the limits and deductibles, too.

A small investment business insurance for your small business can pay huge dividends if an accident happens. For the business insurance your company needs, contact Abatelli Group, Inc. today!

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