Many small business owners believe that having business insurance is a luxury instead of a necessity. Business insurance can be expensive, but when you consider the risks of not having it, you will quickly realize that it is money well spent. The following is a list of different situations that can be avoided when you purchase Business Insurance in Canton.
Loss
Having an insurance policy for your business can protect you in the case of property loss due to fire or other unforeseen circumstances. If you have this type of insurance, the loss that you incur during a disaster will only be temporary. Many policies will also allow you to recoup the money you lose due to being closed during repairs to your building.
Liability
Having liability business insurance is a must in situations where a customer slips and falls in your establishment. Without this insurance, the customer can sue you directly, which can result in you losing everything you have worked so hard for. Liability insurance will limit the amount of money a person can sue your business for and in most cases they will negotiate a settlement so the case never goes to court.
Theft
Many new businesses quickly become targets for burglars. These thieves will steal everything from electronics to furniture, which can be disastrous for a business that is on a tight budget. Many business insurance policies have a replacement clause, which pays for items that are stolen. The cost you have to pay for the Business Insurance in Canton, will pale in comparison of having to replace all of the property in your business.
Usually, the amount of insurance coverage you need will depend on the type of industry you are based in. Generally, a person who owns a retail establishment will have far less coverage than someone who owns an industrial based business. If you have questions about the type and amount of coverage you need you should call Heidi Kussurelis Agency. The Kussurelis Agency can help with business insurance as well as Car Insurance in Ann Arbor if you have vehicles involved in your business.
