What is Business Insurance?
There are many different kinds of business insurance. Each kind exists to protect your business from unanticipated costs due to accidents, errors, or lawsuits.
If you’d like to learn more about the different types of business insurance, the U.S. Small Business Administration has good explanations available here.
Why should you insure your business?
It’s important to carry at least some basic business liability insurance to provide financial protection against lawsuits due to simple accidents like trips and falls in or around your business location. You can also obtain a policy to protect your business from costs related to errors or omissions made while performing services for customers.
Also, some bids and proposals require that subcontractors have insurance. Make sure to read the requirements carefully.
How to get Business Insurance
The easiest way to determine the insurance needs for your business is to find an insurance broker to work with. They will help you identify areas of risk for your business and provide quotes for insurance policies to cover those risks.
How much does Business Insurance cost?
Insurance costs will vary significantly based on your specific business needs. While starting your search for an insurance broker, you should be sure to obtain estimates from a few places to make sure you get a good price.
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