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Small business insurance often gets overlooked by employers. Smaller operations theoretically reduce the risk of accidents and disasters, and insurance agents at Phillip Kent Beck Agency in High Point, NC, say this is a fatal assumption. The inevitable can happen any time, and if you’re a small business owner, one incident could push you into bankruptcy. There’s no price tag on the peace of mind coverage offers, so consider the benefits below.

3 Benefits of Small Business Insurance

1. Liability Coverage

Regardless of the industry you’re in, injuries occur. Whether it’s a slip and fall or more serious personal injury, not having small business insurance sets you up for an easy lawsuit from employees or patrons. Legal fees alone may drive you out of business, which is why the liability coverage small business insurance provides is invaluable. This protects you from mishaps and what-ifs, ensuring you’re safe if accidents happen.

2. Weathering the Storm

small-business-insuranceNature holds no bias, and a tornado, earthquake, or flood can level your operation. If you don’t have disaster coverage, this could mean the end of your business. Small business insurance offers two services: It covers the losses of property, equipment, and assets while also providing compensation for the income lost while you’re closed down, utilities included. These funds not only keep you afloat—they let you rebuild. Don’t pass on insurance, especially if you’re in areas prone to natural disasters.

3. Keeping Up With the Professional World

In most states, small business insurance is actually legally required. You won’t earn the industry’s respect if you’re breaking laws, and prospective upper-tier hires may view it as a liability. Business-to-business contracts often require you have insurance as well. If you create goods for a client, they want to know losses are insured, the same as you’d want from them. Having everything in line is what professional companies do, and keeping up with the market is the only way to pull ahead.

If you’re in need of insurance, contact an insurance agent at Phillip Kent Beck Agency. They offer comprehensive insurance packages and extensions and will help you find coverage that fits your exact needs. Call (336) 434-2111 today to schedule a consultation and visit their website to learn more about their services.

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