Starting a new business is both thrilling and challenging. Even with a small start, the risks can feel more significant when your own time and money are at stake. Business insurance helps safeguard your investment by providing coverage for unexpected events.

Here are some common questions to help you get started.

Starting your own business means taking on a degree of risk. As a business owner, you already have the passion and drive to take on challenges, but you’ll also need to protect the value of the assets you purchase for your company. Insurance can help you recover when things go wrong, from property losses related to items such as fire or theft, to liability issues should someone sue or threaten to. With the proper policies in place, you’ll gain peace of mind and feel more comfortable in your role as an entrepreneur.

Starting your own business means taking on a degree of risk. As a business owner, you’ll need to protect the value of assets purchased for your company. Insurance can help you recover from things like property losses related to fire or theft, or liability issues should someone threaten to sue. Business insurance can give you peace of mind.

The cost of business insurance is based on multiple factors, including:

  • The value of the company assets you wish to insure.
  • The number of employees.
  • Specific risks associated with your industry.
  • Your personal risk tolerance and the amount of liability protection you prefer.

Yes, you should include insurance expenses in your yearly budget. From a cash flow perspective, you’ll want to understand what kind of payment options and timing are available. When starting out, separate your company assets from your personal items to determine the amount of insurance you’ll need. Speak to a tax or legal advisor about properly establishing your business’s structure.

Here at Great Lakes Auto Home, we have agents standing by, ready to create an insurance policy customized to your specific business needs. Call us at (630) 441-1003 to request a quote.

For more information or a business insurance quote, feel free to reach out. Our friendly agents are ready to assist you! Call (630) 441-1003.