insure your business 8

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Reply to Msg 6525

INSURE THE BUSINESS: Before opening a business you should consult with an insurance agent to develop a comprehensive insurance plan. A basic package may include the following types of protection: Fire Insurance - covering damage to the premises, equipment, and inventory caused by fire, explosion, wind, riot, or smoke.

Liability Insurance - safeguarding the business from financial loss due to any claims of bodily injury or property damage connected with the business.

Crime Coverage - reimbursing for losses resulting from robbery, employee dishonesty, and vandalism.

Workers' Compensation Insurance - covering employee injuries and loss of pay related to accidents on the job. Fidelity Bonds - placed on employees with access to cash and other assets to guarantee against financial loss from embezzlement.

Business Interruption Insurance - compensating for revenue lost during halt of business due to fire, theft, or illness.

Automobile Insurance - covering both physical damages and Employee Health and Life Insurance - furnishing financial benefits to workers and their dependents in case of illness or death liability caused by company owned vehicles.

Key Person Insurance - compensating the business if owners or essential management become disabled or die. Product Liability - protecting the business against claims regarding faulty merchandise.

You should determine which types of insurance are needed for your business and shop around to determine the coverage available and applicable rates.

Lionne Club, March 4 2008, 2:41 PM

Topic: START YOUR OWN BUSINESS II Lionne Club

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Various types of licenses are required in order to conduct business in the United States. A LOCAL business license is... read more >
Lionne Club, 4-Mar-08 2:39 pm
INSURE THE BUSINESS: Before opening a business you should consult with an insurance agent to develop a comprehensive... read more >
Lionne Club, 4-Mar-08 2:41 pm
OTHER SOURCES OF INFORMATION FOR A SMALL BUSINESS AND CONCLUSION: There are many sources of information available to... read more >
Lionne Club, 4-Mar-08 2:58 pm

 

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