Every business represents a huge investment; that’s why you want to make sure you’re protected against everything that may happen. A good business insurance policy will insulate you from risk, compensate you for lost equipment, and cover the costs of liability lawsuits. Below are a few of the benefits of buying a well-rounded policy.

3 Advantages of Business Insurance

1. Business Property Coverage

If your equipment is damaged or destroyed by a natural disaster, stolen, or vandalized, a business insurance policy will cover the losses. These policies will also cover the inventory, store displays, computers, office equipment, and any other property the company relies on. Because homeowners insurance usually doesn’t cover business property, home-based companies should have a separate policy.

2. Liability Protection

A single lawsuit can put you out of business for good, even if you eventually win in court. Fortunately, a business liability policy will cover damages, such as those caused by an employee in an accident or when a customer is injured by a product. It will even pay the costs of your legal defense. You’ll also need a separate business insurance policy to cover your vehicles.

3. Lost Income Coverage

Up to 40% of companies that close for repairs after a disaster never reopen, even if they have insurance. Lost income insurance lets you pay employees and bills and covers your expenses while the business is getting repaired.

For over 40 years, the business insurance experts at Taake Insurance Agency LTD have provided customized coverage to the Columbia, IL, community. As independent agents, they work with some of the industry’s leading carriers, giving them a wide range of policies to choose from. Visit their website for more information about their coverage options, follow their Facebook for tips and advice, or call (618) 281-7656 to request a free quote.