Most of us would never own or lease a vehicle without auto insurance. Should the unthinkable happen, insurance can help take care of expensive repairs or a replacement. It protects you in the event of a lawsuit or other drivers who have little or no insurance. Insurance safeguards your assets such as your home, retirement, and investments.
Not having business insurance, on the other hand, could mean the end of your business. If the unexpected happens, it could drain your cash flow and it’ll be too late for a small business loan. Just like consumers invest in auto, home, life, and travel insurance, small businesses have options for insurance. The right plans depend on your company and the state in which you conduct business. Some require businesses to carry certain types of insurance.
