Get Business Insurance

Say you've started your own business. Are you prepared in case of a disaster? Besides fire or theft, do you know what you'd do if your partner died, your bookkeeper embezzled money from the company, or an employee or customer was injured at your business?

Even if your company is small and just starting out, you should have business insurance in place. In many states, it is required by law. The fact is that anyone can be sued for almost any reason, and if a judgment is entered against you, it will not just "go away." Your wages can be garnished, your equipment could be seized and sold, any assets and/or bank accounts could be seized to pay the judgment.

Even if you are incorporated, that will not necessarily protect your personal assets against a judgment. Typically, smaller business owners, even if incorporated, can end up being sued, and may be held liable for any resulting judgment.

If you are a home-based business, your homeowners' insurance may not cover your business property. More than half of all home-based businesses are underinsured at best. And web-based businesses should consider insurance against hackers and viruses.

When you're considering your options, remember that many choices are available for business insurance, including:

• General liability insurance - these policies protect against bodily injury, property damage, medical expenses, libel, slander, lawsuit defense costs, judgments, and appeal bond costs.
• Product liability insurance - this is to ensure that any products you manufacture are safe to use.
• Professional liability insurance - any business that provides services should consider this type of insurance. The coverage protects against malpractice, errors, and/or negligence. Some professions, such as doctors and lawyers, are required by law to have this type of insurance.
• Commercial property insurance - this covers any loss or damage to company property, including buildings, computers, company records, cash on hand, income, and business interruption. The types of hazards it insures against include fire, flood, crime, vandalism, smoke, wind and hail storms, and civil disobedience.
• Home-based business insurance - you can add riders to your homeowners' insurance policy that cover your business against property damage. But you may need to purchase additional insurance to cover other risks.

Starting a new business can be both exciting and scary. You can make it a little less scary by taking the time to plan and purchase the right insurance for your company's needs. We can help you decide which insurance plan is right for you.