Are you thinking about getting Business Interruption Insurance? Good for you! As a startup, there’s a lot to juggle: you need to make sure the products are good, build a customer base and keep growing.
And while many people think of insurance as something that only large companies need, it’s actually very important for startups as well.
Business Liabilities Insurance is a crucial policy that protects your company against unexpected events, and it can be especially useful in the event of an employee injury or property damage.
Public Liability Insurance protects your business from unexpected events, such as lawsuits and theft. It also helps to protect you in the event of a fire or natural disaster. Without liability insurance, these unexpected events could quickly put you out of business and cost you tens of thousands or even hundreds of thousands of dollars in legal fees.
A business liability policy will protect you if one of your employees accidentally injures someone while on the job, or if a customer falls and is injured at your business location. It also covers any government fines that may occur as a result of violating health codes or labour laws, and civil lawsuits from customers who are dissatisfied with their product or service.
Business liability insurance also protects against theft claims by providing coverage for lost or stolen items that happen to be in your possession at the time of loss (such as computers).If a customer sues you because they feel they've been overcharged for services rendered, this type of policy will help pay for legal fees as well as any damages awarded by a court.
This type of insurance also helps protect you from employees who steal from the company—or worse yet—damage property out of spite.The best part about having this type of coverage? You'll never have to worry about getting sued again!
Business Liabilities Insurance will help protect your personal assets, such as your home, auto and other property. It also provides coverage for bodily injury lawsuits that can result from the operation of your business and third party claims against you.
If there is a lawsuit brought against you or your business that results in legal defense costs, this coverage will pay for those costs up to the limit specified on the policy.
It’s also important to consider the additional protection that business liability insurance provides for your employees. This form of insurance typically covers injuries to your employees as well as injuries involving customers, vendors, contractors and business partners.
You have a tonne of reasons to worry about managing your business. Not being able to pay your debts shouldn't be one of them.
Running a business has so many facets: as a small business owner, you have a lot on your plate, from payroll to daily operations to customer interaction.Small business insurance can give you peace of mind so you can concentrate more on the delight your company brings to its clients and less on the potential repercussions of claims.
Conclusion
The bottom line is, if you own a business and are not protected with liability insurance, you could be putting yourself and your company at risk. It’s just as important to have this type of coverage as it is for homeowners to have homeowner’s insurance or renters to have renter’s insurance. So don’t wait any longer—get the protection you deserve today!