Being an entrepreneur is a hard job. It takes creativity, dedication, and eagerness. No amount of hope, however, can rid you have the expenses related to being without insurance. Consider for a moment the purpose of the coverage described below. Could your business really survive without it?
California experiences wildfire, flooding, and other disasters throughout the year. Any of these could destroy your business, leaving nothing to salvage. With property damage coverage, you could be compensated for such losses.
Business interruption coverage could help pay for expenses related to the forced closing of your business because of a covered hazard. This type of insurance may pay for a temporary office space for your business, as well as any bills that must still be paid even if your normal building is not in use, such as electricity and mortgage.
One of the biggest challenges faced by business owners are liability claims. From slips at your business premises to dysfunctional products, there is a real chance of you having to file a claim with your insurer. Before needing to do so, you should make sure your policy includes general, product, and professional liability.
Could your business benefit from you purchasing additional insurance? It is best to do so as soon as possible to ensure the coverage is in effect in case a disaster befalls your business.