Insurance may not be one of your favorite topics, but it should be on your checklist of items you must consider when running a business. Just as in your personal life you need to have a plan to protect you and your family for unplanned life events, you should have a similar plan for your business.
Insurance is a very general reference to a wide array of products and services that, according to the Small Business Administration, "protects your investment by minimizing financial risks associated with unexpected events. " The most common types of insurance are designed to protect you, your employees, your customers, and your assets. The type(s) of insurance that apply to your business depends largely on the type of business you run and how you run it. For example, if you operate your business from home, you need to make sure your business is covered in case something happens to your home. There is a chance that your homeowners insurance policy does not automatically cover your business.
How do you determine which type of commercial applies to your business? Partnering with an experienced full-service insurance agency, such as Little & Sons Insurance Services is a great place to start. You need to know what is required by your state and what fits best your business structure. The insurance agency has the expertise to make sure you have sufficient coverage to meet your personal needs as well as any necessary requirements, which in effect should give you peace of mind so that you can concentrate on other business tasks.
