As a business owner I know you’ve put in hours of hard work and most likely invested a lot of money to get where you are today. Therefore, it is critical that you don’t neglect one of the most important pillars in your business foundation; business insurance.

Insuring your business isn’t quite as easy as insuring your car.  Because your business is unique, you’ll need to design an insurance package that will provide a level of protection with which you’re comfortable.

There are so many types of insurance for businesses to consider:

  • property insurance
  • professional liability insurance
  • disability insurance
  • worker’s compensation insurance
  • business interruption insurance

How are you supposed to know what type of coverage will give you the level of protection you need?  Unless you devote hours and hours to learning about insurance, you probably can’t know.  That is why it is important to have the right type of team to support you.  As I mentioned before, you should have a relationship with an attorney before you need one.  Putting together your business insurance package is tricky and making a mistake may mean that you pay legal fees to get you out of a situation that good insurance could have helped you avoid.  So, be sure to consult with your attorney when making these critical choices.  A good attorney will suggest that you work together with your insurance agent to put together exactly what you need to cover your interests without paying more for or carrying more insurance than you need.

Having the proper level of insurance is not just critical for the foundation for your business; it will help you sleep better at night.