Insurance Needs Change as a Business Grows
Entrepreneurs are natural risk-takers. They wouldn't be in business if they weren't brave. However, in order to stay in business and make a profit, business owners need to mitigate their risks whenever possible. This means having a clear strategy and buying the right insurance products to protect the company. Strategizing starts before the business opens its doors. Choosing the right structure and having a solid marketing plan help the business stay on track. Insurance is essential for those times when unexpected things happen. Commercial Property Coverage Losing critical assets could mean having to close the business. That's why every company should have commercial property coverage. This type of policy covers assets owned by the company, including real estate and equipment. The terms of the coverage are outlined int he policy and should include losses related to fire, theft and natural disasters. If a company only has one insurance policy, it should be this one. By pu...