Starting a business isn’t for the faint of heart! It takes a whole lot of passion and determination to get a startup to succeed. Protecting the business that you’ve poured so much of your heart and soul into is crucial. So, when exactly is it time to get business insurance? Believe it or not, it’s recommended to purchase business insurance before your business comes to fruition. What’s the benefit of setting up your business insurance beforehand? There are quite a few perks.
Peace of mind
Not only will it give you peace of mind being insured before you open your doors but rushing to get the right policy could result in a hasty decision. Of course, the type of insurance you need depends on what kind of business you are running. Take time out to talk with your insurance agent and see what policy is right for you. Getting your coverage beforehand will allow you to focus on growing your company and keep you in the day to day trenches.
It’ll be easy to find your own space
When you are ready to spread your wings and move into your own space, commercial landlords will often require tenants to have proof of liability insurance. Having this coverage from day one will allow you the flexibility to move whenever it’s right for your business.
Liability is key
Purchasing tech and equipment to run your business comes with the territory. You’ll want to make sure you have the right coverage - at the right time - for these big investments. Accidents and thefts happen; the last thing a small business owner would want is to lose a large investment.
Business insurance isn’t one size fits all
Generally speaking, the way your business is covered depends on a lot of factors. The number of employees you have, your revenue, the type of industry you are involved in, where you do business, the value of your equipment, etc. After assessing your business, a good insurance agent will find you quality coverage at a competitive rate. Don’t be afraid to ask questions! Using an independent agent like myself will allow you to explore policies with multiple insurance companies to get you the best coverage for the best price.
If you’re looking for an insurance agent in Orlando, Harrell Agency Services is happy to answer any Central Florida business insurance policy questions you might have!