Business insurance vital for peace of mind

Published 12:00 am Friday, May 14, 2004

Insurance Insights

The dream of owning one’s own business comes true for multiplied thousands each year. In a large percent of cases, that means starting the enterprise on a fairly small scale, and perhaps on a fairly tight budget. There might be some temptation to skimp on some corners, such as business insurance protection. This is NOT the time to take such chances. Such a decision could jeopardize the dream.

Business insurance is important for several reasons. Most beginning entrepreneurs don’t have the financial resources to handle adversity if it should occur. Business-threatening circumstances can happen in many ways; fire can devastate, a power outage can cause goods to spoil; a customer may be injured accidently while visiting your premises, etc.

Business insurance can protect you from these hazards and others. Some of the more common coverages include:

€ Accidental direct physical loss coverage for business personal property;

€ Broader off-premises property coverage;

€ Loss of income coverage;

€ Extra expenses coverage.

The above are examples of some of the coverages available. If you’re a business owner, or contemplating your own “start-up,” contact your insurer to discuss what protection is best suited for you. The proper insurance protection should be part of your business plan.

When you consider the investment in getting your dream of business ownership off the ground, remember business insurance. It’s a tool you can’t afford to work without.

JAMES WAGNER is a State Farm Insurance representative.