Gem #22-10-1: No Matter the Size of Your Business, Get Business Insurance!
3 Gems Why to Buy
It is very important to have business insurance because the financial consequences of a potential mishap could force you to close. Business Insurance provides protection and peace of mind knowing that if a customer or passersby experience harm at the hands of your business, or if your business is harmed by an incident such as a fire your business is protected.
Business insurance not only can protect you it also protects others. If your business somehow hurts your customer and you are found liable because of your products, you need business insurance to ensure that you will be able to pay for the damage you've caused, and it helps you from filing bankruptcy or closing.
For your business to grow you must do more business with more people and/or with larger companies and government entities. Larger companies and government entities will require that you have certain types of business insurance, such as General Liability, Professional Liability, Employment practices liability or workman's compensation, just to name a few. As entrepreneurs, we all agree we want our business to grow and be profitable, but with growth comes more liability exposure and that's why it is essential you have business insurance coverage.