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Business Insurance

If you want your business to succeed, then you must take steps to protect it. The last thing you want is to lose your business because of an unexpected event like a lawsuit or natural disaster. A business insurance policy protects you financially so you can maintain your livelihood.

Any business can benefit for this insurance, even an LLC. An LLC protects your personal assets from any liabilities your business may incur. But business insurance guards against the specific types of risks and losses your business may face. You should do some research to learn which type of insurance is right for your business.

You will probably need workers’ compensation insurance, unemployment insurance, and state disability insurance if you have employees. Beyond these three, your state will probably have requirements based on your industry.

General liability is the most common type of policy. This policy will provide coverage for several types of risks such as bodily injury, libel, medical expenses, and property damage. Doctors and financial services professionals usually have errors and omissions insurance to protect them from malpractice lawsuits. There is also product liability insurance and commercial property insurance.

If you have a home business, your homeowners’ insurance policy doesn’t cover business related losses. You will need to learn which coverage is best for a home business situation. Speak with an insurance agent for more information.






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