Top 5 Reasons To Get Business Insurance

It’s a huge accomplishment to even start a business, so naturally, you want to protect it once you get things up and running. As you’re conquering your business to-do’s, make sure getting business insurance is one of your first priorities. Doing so can help you save time, money, and stress in the long run.

Keep reading to learn about the top 5 reasons to get business insurance!

1. Business insurance is required by law

Most states require small business insurance. However, even if yours doesn’t, you should still consider having it as a form of protection from financial loss. Stay one step ahead of risk!

2. Business insurance protects your employees

If your business is bigger than a party of one, the business insurance coverage that most states require is workers' compensation insurance. It’s important to know that workers’ compensation offers different protection than unemployment insurance programs and it is dependent upon which state you live in.

3. Business insurance protects your customers

If you’re a B2C, your business insurance can also help cover your customers if you have a Business Owner’s Policy (BOP). These BOP policies combine business property and business liability coverage into one to help protect your business from things such as:

  • Property damage
  • Personal and advertising injury
  • Bodily injury
  • Product liability

4. Business insurance builds credibility

Having the right policies shows your customers and contractors that you take managing risk seriously. It also helps communicate to everyone that you’ll provide the right protection, no matter what may occur. Showing that you prioritize having the proper coverage will help you build the credibility your business deserves.

5. Business insurance = reassurance

You deserve peace of mind when it comes to your business. Staying protected plays a big part in finding the reassurance you need. Focus on the rest of your to-do list with the protection of AFI’s Umbrella Insurance, which includes coverage above and beyond your homeowner, personal liability, and auto insurance. Protect nearly everything else with AFI insurance products. Learn more here.