Most businesses start small! If your business is growing by the month, you’ll definitely need business insurance. Here’s why!
You’re a business owner. It’s a title you’ve worked hard to earn. You’ve developed your concept from idea into an actual money-making venture. Whether your company is located on the main strip or in a strip mall, you want to protect it. Business insurance is designed to help shelter your business from potential losses and keep it running smoothly. It’ll help protect the success of your business – now and in the future. Without insurance, a theft or natural disaster could cause a devastating loss. Every company has different needs, and purchasing insurance can seem daunting. Luckily, a Farm Bureau agent can help!
When Should I Buy Business Insurance?
The answer to when you’ll need business insurance varies. You might be tempted to put business insurance on the back burner or you might think that your business is too new to insure. The reality is it’s not if you need business insurance but when. For example, if you’re leasing office space to run your business out of, you’ll likely need business insurance before you can even open shop.
Types of Business Insurance
There are several different kinds of business insurance, each designed to protect against a specific set of risks. A Farm Bureau agent can help you determine which type of business insurance will meet your needs. Read on below to learn about some of the different kinds of business insurance:
Liability Insurance: Likely the most basic business insurance coverage. Liability insurance will cover your obligations and legal defense for accidents, injuries and negligence.
Property Insurance: This type of coverage protects your property if it is damaged or destroyed due to fire, storm, or theft.
Workers Compensation Insurance: You do your best to keep your business a safe place for your employees, but accidents can happen. Workers compensation pays for lost wages and medical care for employees who are injured while on the job. Most states require employers with more than a certain number of employees to have workers compensation insurance, though this law varies state to state.
Umbrella Insurance: This type of coverage picks up where your standard liability insurance policy limit leaves off, offering you a broader umbrella of protection.
Identity Theft Coverage: As a business owner, you probably already know that identity theft is one of the fastest growing crimes in America. That’s why Farm Bureau offers identity theft coverage as an add-on to another insurance policy.
Business Insurance that Works Hard for You
As a business owner, you’re constantly coming up with new ideas, putting smart strategies to work, and bringing your dreams to life. And we’re here to help protect what you’ve worked so hard to build. Business insurance from Farm Bureau can help shelter your business from the uncertainties of life. Meet with a Farm Bureau agent and get the customized coverage that your business needs.