page loader


As a business owner, you are not only responsible for profit and running of the business, but you are also responsible for the risks that you take. Business insurance includes many different types of coverage to help reduce your risk.

Do I Need Business Insurance?

It really doesnt matter whether you have a small business or a large one, protecting your business and your own personal finances is essential. If your building was destroyed, someone was injured on your property, or if you are sued, having business insurance can keep the financial impact to a minimum.

How Does This Type of Insurance Work?

Business insurance transfers and shares the risk among a group of business owners. When you pay your monthly premium, the provider invests the money to create a pool that can be used if your business or another business files a claim. This can keep losses from having to be paid out of your own pocket.

What Types of Coverage Are There?

There are several different kinds of business insurance coverage. The most popular policies are:

  • Property coverage protects your building or other premises if they are damaged or if they are lost entirely. For example, if there were a fire, then the insurance would help cover repairs, rebuilding, and replacing property that was inside of it.
  • Liability coverage protect your business against legal action if someone slips in your building or are harmed due to the recklessness of your employees or the business. Liability coverage can help decrease your monetary damage in penalties or judgments.

Other types of coverage include:

  • Commercial auto insurance
  • Workers compensation insurance
  • Business Interruption insurance
  • Disability and life insurance

Are There Benefits To Having Business Insurance?

The major benefits to having this type of coverage are the protection of your business and the management of the risk you are taking by being a business owner. By insuring your business, you can be sure that your risks are decreased and that you can continue your business in case of fire, theft, or lawsuit. Money paid now can have big dividends in the future.