• Protecting Against Common Fire Risks During Construction
  • The Modern Office Brings Emerging Risks
  • 5 Ways Mindfulness May Increase Productivity for Your Small Business
  • Small Business Insurance 101: Frequently Asked Questions and Answers
  • insurance search

Small Business Insurance 101: Frequently Asked Questions and Answers

Opening a new business is both exciting and daunting. Even if you start small, the risks may feel greater when it’s your own time and money on the line. To protect your investment, business insurance offers coverage that protects your business when the unexpected happens. If you’re preparing to launch your own business or just want to understand more about how business insurance protects your livelihood, here are some frequently asked questions and answers to help you think it through and plan ahead.

 

A: Starting your own business means taking on some degree of risk. As a business owner, you already have the passion and drive to take on new challenges, but you’ll also need to protect the value of the assets you purchase for your company. Insurance can help you recover when things go wrong. From property losses related to items such as fire or theft to liability issues should someone sue – or threaten to. With the proper policies in place, you’ll gain peace of mind and feel more comfortable in your new role as an entrepreneur.

A: The cost of insurance is based on a range of factors including the following:

  • The value of the company assets you wish to insure.
  • The number of employees.
  • Specific risks associated with your industry.
  • Your personal risk tolerance and the amount of liability protection you prefer.

A: Yes, you should include insurance expenses in your initial business plan and yearly budget. From a cash flow perspective, you’ll want to understand what kind of payment options and timing are available. When starting out, aim to separate your company assets from your personal items to determine the amount of insurance you’ll need to carry. To properly establish your new company, speak to a tax or legal advisor about formalizing the structure of your business. Read more

Recent Articles & News
  • Protecting Against Common Fire Risks During Construction
    anemptytextlline
    anemptytextlline
  • The Modern Office Brings Emerging Risks
    anemptytextlline
    anemptytextlline
  • 5 Ways Mindfulness May Increase Productivity for Your Small Business
    anemptytextlline
    anemptytextlline
  • Small Business Insurance 101: Frequently Asked Questions and Answers
    anemptytextlline
    anemptytextlline
  • insurance search
    anemptytextlline
    anemptytextlline
  • Boating Safety Tips
    anemptytextlline
    anemptytextlline
  • Why Does Gas Cost More in the Summer?
    anemptytextlline
    anemptytextlline
  • Safety Tips for Senior Drivers
    anemptytextlline
    anemptytextlline
  • Is Your Business Parking Lot Safe?
    anemptytextlline
    anemptytextlline
  • Teen Driving Safety Tips
    anemptytextlline
    anemptytextlline
  • Technology Can Protect Your Employees and Your Commercial Fleet
    anemptytextlline
    anemptytextlline
  • Small Business Insurance Glossary
    anemptytextlline
    anemptytextlline
  • Six Smart Technologies to Keep You and Your Home Safe
    anemptytextlline
    anemptytextlline
  • Protect Your Business Equipment Investments
    anemptytextlline
    anemptytextlline
  • 5 Teen Texting and Driving Tips
    anemptytextlline
    anemptytextlline
  • Password Security Tips
    anemptytextlline
    anemptytextlline
  • How Much Homeowners Insurance Do I Need?
    anemptytextlline
    anemptytextlline
  • 5 Smart Home Automation Safety Tips
    anemptytextlline
    anemptytextlline
  • 9 Key Elements of a Data Security Policy
    anemptytextlline
    anemptytextlline
  • Kitchen Fire Safety
    anemptytextlline
    anemptytextlline
  • How to Create a Fire Evacuation Plan
    anemptytextlline
    anemptytextlline
  • Space Heater Safety Tips
    anemptytextlline
    anemptytextlline
  • Valuable Items Blanket Coverage: Lavish Gifts Deserve Protection as Special as They Are
    anemptytextlline
    anemptytextlline
  • Tips to Help Prevent Carbon Monoxide Poisoning
    anemptytextlline
    anemptytextlline
  • 5 Smart Home Automation Safety Tips
    anemptytextlline
    anemptytextlline
  • Fireplace Safety & Maintenance
    anemptytextlline
    anemptytextlline
  • Preventing Tax Fraud and Identity Theft
    anemptytextlline
    anemptytextlline
  • How to Protect Yourself from Package Theft and ID Fraud
    anemptytextlline
    anemptytextlline
  • Beware Post-Natural Disaster Scams: Protecting Yourself After the Storm
    anemptytextlline
    anemptytextlline