If you’re thinking about starting a business, you know a thing or two about taking risks. But remember, it’s smart business to limit your risks however and wherever you can.
That’s where business insurance — and solid advice from your agent — come into play.
Is business insurance necessary?
The short answer is absolutely. Especially if you have employees, in which case some types of insurance, including workers’ compensation and disability insurance, may be required by law.
What’s the risk?
Many small businesses go without insurance because of the cost. But those businesses haven’t carefully considered what not having insurance could cost them.
Tips for protecting your business
These tips can help you secure the right insurance for your company:
- Work With an Agent
- Create a Detailed Business Plan
- Assess the Unique Risks Common to Your Business
- Packages Many Smaller Risks Into Umbrella Policies
- If You Have a Home-based Business, Make Sure You Cover Both
- Review Annually
To see this article in full, go to Pittsburgh Business Times