Are you wondering if you need business insurance, and, if so, why? Without a doubt, it’s an important question. No two policies are the same, but there are a few common risks that this kind of insurance is designed to cover, such as property damage, cyber crimes, and customer injuries. Without essential coverage, you’re leaving your company vulnerable to these risks, and others. Read on to learn more about the benefits of business insurance.
1) Peace of Mind
Insurance can provide a sense of security and peace of mind. Things happen. It’s just a part of life. But knowing that your insurance is there to help take care of things can make all the difference.
2) Legal Trouble
When thinking about the possible risks associated with running a business, you may not consider that you could become involved in a lawsuit, but it happens all the time, and not only to big companies. Thankfully, business insurance can actually help cover some of the unexpected legal fees that you would surely face in such a situation.
For example, let’s say that a client slips on a wet floor while in your office and is injured. That client may then decide to sue you because there was no wet floor sign on display. In this case, your insurance coverage would step in and help you cover the costs. After all, you could even end up in court. There’s no telling how expensive this situation could become, especially without insurance.
3) Cyber Threats
Depending on your industry, it can also be imperative to protect your business from cyber threats. We live in an increasingly digital world. And, with such innovation comes cyber crimes. If your company stores or processes sensitive data, you probably need a cyber insurance policy. Relevant data can include things like customer names, addresses, or credit card information. If you plan on signing up for business insurance, ask if your policy includes coverage against cyber attacks.
Get a Business Insurance Quote
You work hard to make your company a success, so don’t leave anything to chance. Business insurance may not be required by the state, but it may just be one of the best investments you make. To learn more about the right policy for you, contact Michael McGann Insurance at (925) 447-1744. You can also send an email through our contact form by clicking here.