Insurance  Promote Your Business
Insurance
ProMatch
Directory
Cost Report
 

Every Small Business Should Consider Carrying Thirteen Types of Insurance






According to a 2012 article by prestigious business magazine Forbes,there are thirteen types of insurance every business owner should consider carrying, regardless if the business is either big or small:

General Liability Insurance: Provides defense and damages in the case of third-party property damage or injury.

Property Insurance: Protects inventory, business interruption or loss of earning (an optional insurance)

Business Owner’s Policy (BOP): Policy packages serve with cost-saving bundles for owners.

Commercial Auto Insurance: Protects company vehicles and can be extended for customers who drive their own cars on business.

Worker’s Compensation: Dispenses special wage and medical benefits to injured employees on the job, without any litigation or legal contest needed to accrue those benefits.

Professional Liability Insurance: Also known as Errors and Omissions Insurance, the policy covers improperly rendered services. Due to the nature of work, this insurance is most often placed for professional firms and offices such as lawyers, accountants, notaries, and hair salons.

Directors and Officers Insurance: Covers costs or damages that could offset business profitability.

Data Breach: Protects against any breach of sensitive or confidential information.

Homeowner’s Insurance: Protects against damages in the home, its items, or causal accidents.

Renter’s Insurance: A sub-set of Homeowner’s Insurance, this insurance protects only those that rent their home.

Life Insurance: Allows peace of mind by protecting an individual against death.

Personal Automobile Insurance: Has a dual function of covering every type of vehicle and bodily injury.

Personal Umbrella Insurance: This insurance is a special extension for other insurances, each bought with increments of $1 million.

At first glance, this informative list of suggested small business insurance types and descriptions for business owners feels costly and overwhelming—unfortunately, insurance costs have tripled in only a couple of years. And, of course, even receiving a fraction of coverage from each insurance must be considered, including location, available credit lines, payroll, natural disasters, and an exhaustive evaluation of the current business environment, whether or not is conducive for protection and growth.

Still, having small business insurance is important in order to thrive—but many questions quickly invade the minds of owners, leaders and retailers: What insurances will protect the business from “every considerable risk”? What types of coverage is advisable for which situations? Which insurances are better at being cost-effective, permissive, and flexible? Are the policies customization enough that are not entrapping nor time-consuming to read and understand? Be sure to consult your agent for advice specific to your business situation.



Be the first to find this article helpful.

About the Author

Matthew Gehrman, CityScape Insurance, LLC
127 W Juanita Ave # 114
Mesa, AZ 85210
(602) 888-1732

Contact Author: request info

If you would like to re-print this article, please contact the author.
We can match you to an insurance agent in your local area.
Find Local Insurance Agents

Related Topics

Life Insurance - Personal
Insurance - Property - Business
Insurance - Property - Homeowners
Insurance - Flood
Insurance - Auto - Personal
Health Insurance for Individuals
Friend or Foe - Funeral Funding
A fresh way to look at your competition. Whether your in the funeral funding assignment...

Arizona Wildfires
Every year, Arizona fights the blaze and unfortunately homes, personal property, acreage...

Cityscape Insurance Announces Launch, Provides Personalized Experience
CityScape Insurance believes that you aren’t just a customer, you’re family. Not only...

Save 15% on Your Auto Insurance
Though it sounds great and we’re all ready to cut costs where we can the question you...

Final Expense
The benefits of funeral insurance.

We can match you to an insurance agent in your local area.

Other Related Topics

Five Financial Threats to Your Financial Security
Are you ready for these 5 financial threats to your financial security? Everyone will...

Key Man Insurance- Yeah I've heard of it now tell me how it works.
Key Man Insurance protects the life of a business

Do You Know What A Good Benefit Plan Looks Like?
A good benefit plan should include a number of plans that would meet you and your...

National Flood Insurance Program
Facts about Flood Insurance. Since standard homeowners insurance doesn’t cover flooding,...

Recharged Marketing for your Funeral Home
How badly do you feel when one of your families choose another Funeral Home? What’s...

Editorial Disclaimer: The views expressed in articles published on this website are those of the authors alone. They do not represent the views or opinions of this website or its staff. The articles on this site do not constitute a recommendation or endorsement with respect to any views, company, or product. Authors affirm that article submissions are their original content or that they have permission to reproduce.

Free Cost Estimates   |   Insurance Agents Directory   |   Insurance Cost Report   |   Free Business Listing



Home   |   Articles & Videos   |   Affiliates   |   Networking Groups   |   Search by Category

Terms of Use   |   Privacy   |   About Us   |   Contact Us   |   Member Login

©2003-2018 - VentureStreet, LLC

Join Our Business Network