Running a business involves taking on various risks, such as property damage and legal claims. Without business insurance, one incident could have significant financial consequences that may impact operations and future growth. Business insurance is essential for protecting your company’s assets, managing liability and ensuring continuity during unexpected challenges.

Why Do I Need Business Insurance?

Business insurance isn’t just for large corporations; it’s also essential for small businesses, startups and independent contractors. With adequate coverage, your business is prepared to handle costs associated with property loss, lawsuits and workplace accidents. Having insurance also shows partners, investors and other stakeholders that your business is committed to risk management and can handle various scenarios.

What Does Business Insurance Cover?

Business insurance typically covers a broad range of potential risks.

• General liability insurance may cover costs arising from bodily injury or property damage.

• Property insurance may cover physical assets, such as buildings and equipment.

• Workers’ compensation insurance may provide benefits to employees injured on the job.

• Professional liability insurance may help with claims of negligence or errors in professional services.

• Business interruption insurance may compensate for lost income during unexpected operational disruptions.

How Much Does It Cost?

The cost of business insurance varies based on factors such as the size of your business, the type of industry and the level of coverage required. For instance, businesses with higher risks, such as construction companies, may face higher premiums than consulting firms.

An insurance expert from Stewart Kriese Insurance Agency Inc. can customize a policy to your specific risks and help manage costs effectively.

Learn More

Having adequate business insurance is crucial to the success and longevity of your business. Reach out to Stewart Kriese Insurance Agency Inc. to learn more about your business insurance options. Contact us today for a business insurance quote.