Protect your Enterprise with Business Insurance

Anyone who has put up a business from scratch knows just how much work, time, and money goes into it. Small-scale entrepreneurs are likely familiar with the harrowing processes of applying for loans and courting investors, all for the sake of raising funds for a business venture with proven potential.

Because there is a high level of investment and risk involved in owning a small business, it is sensible to find ways to protect it as it grows. Business insurance allows you to do that when you encounter losses during the normal run of your operations. Those losses can result from a number of events, most notably damage to property, legal liability and employee-related risks.

There are several types of business insurance products to financially prepare and protect your small business against different kinds of risks. Damage to equipment, signage, inventory or furniture caused by a fire or storm can be covered by property insurance, as with losses due to theft.

If your business delivers products (not just services), you can also choose to procure a product liability insurance, which can protect you in the event you are sued for damages that your product allegedly caused. Small businesses and medium-sized enterprises that have physical stores will also benefit from business insurance that provides coverage for business interruption.

Some insurance companies offer a business owner’s policy (or BOP), which is a bundled insurance policy designed specifically for small and medium-sized businesses. BOP coverage typically includes general liability insurance and property insurance, and is more cost-effective than other business insurance products due to its reduced premium. There are certain exclusions when you opt for a BOP, and you can adjust your benefits by opting for additional coverage.

As with any insurance product, we always advise clients to have a good understanding of their own needs so that the coverage can be tailor-fit in the most efficient way possible. We know that you, as the business owner, know the kind of risks your small business will likely face in the long run. We are ready to offer any assistance that can help you arrive at a sound decision regarding your insurance coverage, whatever industry you may be in. Call us today.