Today’s marketplace allows entrepreneurs to launch a variety of businesses. With all the hard work, dedication, money and emotions that contribute to a new company, smart business owners must be sure they have the right insurance in LA to protect their investments. Here are some general insurance concerns all small business owners must consider.
Whether a business has a physical location or a virtual one, property insurance may be necessary. This type of coverage protects a business from damage due to natural disasters, fires, floods and other causes. It may also protect inventory stored in a warehouse.
General Business Insurance
Most business owners also opt to purchase general business insurance. This coverage usually protects the company from liability due to the following:
- Errors and omissions
- Professional mistakes
- Products liability
Some business owners also choose to purchase coverage for lost revenue or work stoppages. Meanwhile, umbrellas policies may kick in where other coverage stops.
For companies with employees, workers’ compensation coverage is usually essential. Since this coverage is complicated, most startup owners choose to work with an agent who understands workers’ compensation coverage.
With the right business insurance in LA, entrepreneurs can often focus on other parts of their new businesses. By working with a competent, experienced agent, new business owners tailor a policy to meet their company’s unique needs.