Whether or not you need business insurance will depend on the specific needs and risks of your business.
As a tool, business insurance is designed to provide financial protection for businesses against a variety of risks, such as accidents, injuries, property damage and lawsuits.
For example, if your business has any assets, such as buildings, equipment, or inventory, you may want to consider property insurance to protect those assets against damage or loss. Or if your business has customers and you could be held liable for accidents or injuries that occur on your property, or from your products or services, you should consider general liability. Oftentimes, businesses are required to provide a certificate of insurance by certain stakeholders in order to operate, whether it is a customer you are performing work for or a landlord.
Additionally, if your business has employees, you may be required by law to carry workers’ compensation insurance.
It is important to carefully assess your business insurance needs with a trusted insurance professional to determine the right coverage for your business.
