It’s not the first thing you think of when starting a business. But Boca insurance company Seeman Holtz Property & Casualty can work with you on the insurance protection your business needs.
As John Boitnott writes in Inc.:
Businesses may choose sub par insurance for any number of reasons. For some, it’s a simple matter of oversight, not knowing what their true liabilities are, or how to address them. In other cases, it’s a matter of cost-cutting. This is never a good approach, because a failure to patent your idea or recognize inherent dangers around that could send your dream off the rails, or worse yet, straight into a lawsuit. On the other hand, business owners who insure their businesses may escape potential legal quagmires.
There are a dizzying array of choices to make when it comes to the types of business insurance, and some are important enough that they need more explanation. Among them:
- General liability insurance — Even if you have a home-based business, you need liability insurance. Why? “The policy provides both defense and damages if you, your employees or your products or services cause or are alleged to have caused Bodily Injury or Property Damage to a third party,” writes Newtek in Forbes.
- Property insurance — If you own your own building, or have business personal property, you need to consider property insurance. Newtek writes: “If you own your building or have business personal property, including office equipment, computers, inventory or tools you should consider purchasing a policy that will protect you if you have a fire, vandalism, theft, smoke damage etc. You may also want to consider business interruption/loss of earning insurance as part of the policy to protect your earnings if the business is unable to operate.”
- Business owner’s policy — A business owner’s policy folds several other types of insurance into one policy. As Newtek points out: “A business owner policy packages all required coverage a business owner would need. Often, BOP’s will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance . Based on your company’s specific needs, you can alter what is included in a BOP. Typically, a business owner will save money by choosing a BOP because the bundle of services often costs less than the total cost of all the individual coverages.”
These are just a few of the insurance issues you should be looking at if you run a business. Choosing the right coverage is where Boca insurance company Seeman Holtz Property & Casualty Insurance comes in.