Insurance is meant to protect what matters most to you—your family, your investments, and, for small business owners, your source of income. In fact, it only takes one accident or liability lawsuit to close your doors for good, so the Phillip Kent Beck Agency in High Point, NC, suggests you think of business insurance as an investment in your future.

Below, they'd like to explain a few things everyone should know about business insurance:

• It Could Be Required: Depending on your state laws and the industry you're in, you might be required to carry certain types of liability insurance. For example, you'll need commercial auto insurance on all delivery or maintenance vehicles, and your lender may require you to carry other policies to protect their interests.
• Minimums Are Rarely Enough: Both state and private insurance requirements may mandate that you to carry a minimum amount of coverage, but bear in mind that this is rarely enough to cover catastrophic damage. Talk to your insurance agent about ensuring you have the right policy for your needs, with enough coverage to keep your business going no matter what.
• A Disaster Could End Your Business: Many business owners underestimate how much they've invested in their commercial enterprise until they're faced with the prospect of having to start over. According to the Small Business Administration, approximately 25% of businesses that shut down due to a disaster stay closed. Your business insurance policy will cover wages and expenses while you recover, rebuild, and pick up where you left off.

As a Nationwide agency, the Phillip Kent Beck Agency prides itself on providing their clients with high-quality insurance products from one of the nation's leading carriers. To learn more about their products and request a quote, visit their website or call (336) 434-2111 today.