The best business owners are always prepared for the unexpected. Preparation includes having reliable business insurance in case someone is injured at your place of work, your property is damaged, or you’re unable to operate due to a natural disaster. Keep reading to learn about some of the many benefits business insurance can bring to your company.

Why You Should Purchase Business Insurance

1. Reduce Lawsuit Costs

If a customer is injured on your property, you could face a costly lawsuit. Even if you’re not at fault, you’ll still need to cover lawyer fees and other costs. Insurance provides funding for these situations, so your business isn’t financially impacted.

2. Replace Company Equipment

Repairing damaged computers, copiers, or other equipment is expensive, especially for a large office. If the office is robbed or flooded, it can cost thousands of dollars to replace everything. Having the right amount of insurance coverage spares you the hefty financial burden of remedying damaged, stolen, or broken equipment. 

3. Follow the Law

Most employers are obligated to carry workers’ compensation insurance by law. This insurance covers injured staff, as well as paying for medical costs for accidents or injuries. Along with meeting legal obligations, workers’ compensation also prevents you from paying for worker injuries out of pocket.

4. Ensure Your Income

Interruptions of your business harm profits and prevent you from earning a living. Business interruption coverage secures your income while your business is offline, while also covering things like rent and utilities. It can even cover employee pay for up to a year in some cases.

Most businesses require a selection of commercial products to remain fully protected. For entrepreneurs in Lincoln, NE, Richards Insurance Agency offers a wide selection of business insurance options at affordable rates. This includes general and professional liability policies, coverage for work vehicles, workers’ compensation, and many others. Call (402) 420-5353 to get started on your quote or visit the website for the full listing of commercial insurance products.