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New businesses may face unexpected financial challenges, and the smallest setback could mean closing your doors for a period, or even for good. It’s crucial that you have coverage, which is why business insurance is recommended. Regardless of how new or established you are, it provides the assurance that you’re protected and ready to continue working if the unexpected happens.

Why Business Insurance Is a Must for New Business Owners

4. You’ll Need It to Take Out a Loan

Many small new business owners rely on loans to get started, but most lenders won’t issue you one if you don’t have business insurance. They want to know that you’re covered, so if an accident occurs you’ll be able to recover and continue with your payments.

3. You’re Covered From Theft

Theft can cripple a business, and, whether it’s office gear or inventory, you’ll be left to foot the bill for replacing these items if you don’t have business insurance. These plans issue a payment equal to the value of the items you lost. Your coverage may also include business income insurance that issues compensation for lost income while you recover from the theft.

2. It Covers Natural Disasters

business-insurance-lincolnFloods, fires, earthquakes, and other natural disasters may also wipe out a business, but an insurance plan may cover the majority of your losses if this happens. They can help you set up a temporary workspace while your office is being repaired, and provide the money needed for you to get your company up and running again.

1. It Protects Employees & Yourself

Business insurance can include worker’s compensation coverage should someone be injured on the job. It is often required by law. 

Business Liability is a form of business insurance which also covers you should a guest be injured while visiting your place of work. This liability coverage can save you from devastating lawsuits and legal fees that would otherwise put you out of business.

 

If you’re ready to secure a business insurance plan, the team at Mid-Alliance Insurance Associates can provide options. This Lincoln, NE, agency offers a variety of plans, including homeowner’s, automobile, and life insurance. You can begin exploring options with an insurance agent by calling (402) 421-7800 or by visiting their website.

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