Sometimes companies occur. You provide care, make changes clothes or offer advice to write to friends, families and neighbors, just because it's what you do. Then one day, someone recommends you and someone you do not know asks, "How much is your service?" Are you ready to load? How much will you pay taxes? And when should you buy insurance for businesses?
These questions, when they come, are both exciting and intimidating. But if you are an accidental entrepreneur or one that is driving a start with a business plan in mind, insurance should be top of mind. It is a financial tool that can help you protect your investment and manage your responsibility.
Here are five types of insurance to consider
Property and General Liability -Property insurance helps to protect the property of the business, such as computers, equipment and construction. It can also protect your income against unexpected loss due to fire (for example). Liability insurance protects business owners from claims of injury or damage sustained by third parties as a result of your operations
Auto coverage -. As you make your personal vehicle, you may need a cover on vehicles that you use for business
Business Disaster responsibility -. These policies extend the coverage amount of your general liability, commercial auto liability, professional liability and fonts employers liability so you will have more protection in the event of a catastrophic situation where you are held responsible. (AKA, someone decides to sue you.)
Employment Practices Liability - This is an endorsement that you can add to your property and liability insurance to protect you specifically in the case where an employee suing you for sexual harassment, discrimination and other issues of common employment.
coverage of occupational accidents -This insurance provides coverage in case of injury or illness sustained by your employee arising in the course and scope of their employment, regardless of negligence on your part and may be required to comply with workers' compensation law in your state.
When insurance is not required by law, it is for you to decide how much coverage you need and for what strengths. But navigating the choice can be difficult. The US Small Business Study commercial insurance JD Power and Associates in 2013 reported that the consultation face to face positively impact the experience of a small business regarding insurance
Erie Insurance is engaged in selling insurance through independent agents. - People like you who understand small businesses and can help you make good decisions - because we know agents make it easier for insurance you
If you are an accidental entrepreneur or start-up looking for help, find an insurance agent ERIE. Near you.
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