You’ve invested time, energy, and a lot of time in your business, but have you taken steps to make sure those investments are protected? Business insurance provides valuable coverage every company needs, whether you’re an established company or running a startup out of your home. Below are just a few of the policies your business may need.
Common Types of Business Insurance
Business Property Coverage
Your building, equipment, and inventory are all vulnerable to a variety of risks, from natural disasters to theft or vandalism. Your business insurance will pay for any damage resulting from a covered event, giving you the ability to recover even if the property you rely on is destroyed. Homeowner’s coverage usually won’t cover business property, so you’ll need a separate policy if you operate out of your home.
If a guest is injured on your property or an employee causes damage to someone else’s property, your business may be held legally liable. These suits can put you out of business, even if the case eventually goes your way. Liability coverage will pay for any damages in these suits, as well as the cost of your legal defense.
Business Interruption Insurance
If your location is seriously damaged, can you afford to close your doors while repairs are underway? In fact, between 40-60% of small businesses that close after a disaster never reopen. Business interruption insurance will pay for your lost income, putting you in a position to succeed when you’re ready to open again.
The insurance industry can be extremely complex, which is why Indianapolis, IN, business owners rely on the expert brokers at Fame Insurance Agency Inc. Their experts pride themselves on building close bonds with their clients and taking the time to truly understand their needs before recommending a policy. To request your free business insurance quote, visit their website or call (317) 383-0181, and follow their Facebook for more tips and advice.