A business insurance policy is a simple risk management tool that lets you pay a fixed amount each month on the off chance you'll face a crisis in the future. Some business owners prefer to take the risk rather than prepare for misfortune, but this generally isn’t the best move. Below are some of the key benefits of having a small business insurance policy in place.

4 Advantages of Small Business Insurance

1. Protect Employees

Workers compensation insurance protects employees by paying for any medical treatment required for on-the-job injuries or illnesses. It protects you, as well. Workers who take advantage of the free health care must waive the right to seek additional damages from you through lawsuits.

2. Stay Out of Court

As noted above, workers compensation helps you stay out of court. Additionally, general liability insurance pays for repairs and treatment if you or an employee should accidentally injure someone or damage their property. Product liability insurance similarly protects you if a product you make or sell should malfunction. Professional liability insurance covers you against errors or omissions you make in your professional capacity as an attorney, medical practitioner, accountant, or consultant. When injured parties receive adequate insurance payments, they are far less likely to sue you. And if they do, the insurance policy covers the costs.

3. Protect Premises & Property

Property insurance pays for any necessary repairs to the premises after an unexpected event. It will also replace any destroyed business property. For instance, in the event of a storm, fire, vandalism, or theft, the insurer should pay the financial costs.

4. Stay Operational After an Emergency

A natural disaster or catastrophic legal judgment could put you out of business without the backing of a customized small business insurance policy. Unless you have enormous cash reserves, the best and simplest way to weather such a storm is to purchase insurance coverage.

For invaluable assistance designing a small business insurance policy, contact JMS Insurance Agency in Stafford, TX. They are an independent agency that has served clients in and around Fort Bend County since 1998. They also specialize in auto, home, renters, life, and RV insurance. Visit their website to connect with them online or call to request a quote from a friendly, knowledgeable insurance agent.