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Why you Should Insure your Business

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Why you Should Insure your Business

Why you Should Insure your Business

Insurance is needed to save the business from losses in a force majeure situation. For example, if warehouses with goods were suddenly spoiled by a flood or a carpenter was injured while working on a machine tool. In such cases, the insurance payment compensates the business for the amount of damage. we will look at why you should Insure your Business in this aticle.

Let’s figure out what and how a business can insured.


Also Read 7 Types of Insurance You Need to Protect Your Business


What can be insured


Property

Equipment, goods, office, warehouse, transport, interior items and furniture. Business property can be insured against fire, flood, theft, damage, and natural disasters.

Entrepreneurial risks. Insurance compensates for losses if the partner does not pay on time or the business loses income due to downtime after equipment failure.

Civil liability.

To compensate the client for damages if, for example, due to the fault of the staff, he received a torn jacket from a dry cleaner.

Employee health.

If an employee is injured while working, the insurance company will pay for the treatment.


Also Read 4 Ways to Succeed in Business


How to get insurance


Define the risks.

Think about what force majeure can happen in your area. For example, if you have a security company, you should first ensure the health of employees.


Explore offers.

You can choose specific insurance or take a package of services, such as comprehensive business protection

The policy includes property and civil liability insurance, and accident insurance.

In the event of an insured event, comprehensive business protection will pay for itself dozens of times. For example, if your production shop is destroyed as a result of an accident, you will receive up to ₽3,200,000 in compensation. The cost of the insurance package will be only 19,900 rubles per year for businesses in Russia for example.

Contact your insurance company or bank. The second option is faster: if you contact the bank, the policy will be issued immediately at the office – without inspection and evaluation of the property.

You can read also Top 10 Reasons You Need Business Insurance. Number 3 Will Schock You.

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