If you’re reading this, chances are you’re an experienced business owner. You don’t need our help making your business amazing, but we’d love to help you protect it. This quick guide can help.
That’s easy—it’s designed to keep you in business. When certain losses come along, you can dodge bankruptcy and stay on top of your game. There are several types of coverage to head off the high costs of everything from property damage to legal claims to employee injury. (And some of them can be bundled together to save money.
If you’re operating your business as an LLC (Limited Liability Company), your personal finances will be protected from lawsuits. If a customer slips and falls in your business, you won’t have to pay medical expenses out of your own pocket. But your business will still be on the hook and could be bankrupted without insurance.
In many cases you are. Most states require you to carry Workers’ Compensation if you have employees. And landlords, vendors and other partners usually require you to carry General Liability insurance before they’ll enter into a contract with you.
Every business is different, so this is only intended to start the conversation! The most commonly purchased types of coverage for a new or growing business include:
3) Pay for crisis management
Of course, insurance isn’t one-size-fits-all. Your industry or business model may benefit from specialized coverage. A licensed agent can ask you questions and help you figure out the best plan to protect the one-of-a-kind business you’re building with your time, energy and passion.
It’s a good idea to review your business insurance needs every year before you automatically renew your expiring policy. Check with a licensed agent to see if you can get better coverage for a better price, especially if you have no claims. You may also need new or different coverage if:
Lewer has a 60-plus year track record of connecting people and businesses to the right coverage. When it comes to your business insurance needs, we don’t play favorites. We work hard to give you an objective recommendation. At no charge to you, we promise to: