Insurance Services of Washington Blog
It is not easy to run a business as there will always be risks associated with it. For example, one of your employees could get hurt in the factory or on the field. A natural disaster may hit the building hard or there is a client who files suit.
You can only have peace of mind if your business is adequately insured. Here are top five reasons why you should get yourself a business insurance policy.
Keeps Your Business in Shape
Can you imagine what would happen to your business in case there is a flood or an earthquake? P&C insurance may actually cover the costs incurred from loss of property such as damage to equipment and buildings. However, your business insurance will cover the lost income up to 12 months of no operations.
Business insurance will always give your clients the idea that you are a safe bet. This means that in case there is any trouble, you will have the means to compensate them. Besides, having an insurance policy means that your business is also licensed, and this builds trust.
Protects Your Workers
As a business owner, you should know that your most valuable asset is not your products and services but your employees. Even your brand is no match for the people who have worked for you.
Besides, you need to offer coverage for your workers' disability in case there are any accidents. Protecting the interests of your workers whether against liability claims or lawsuits is also equivalent to protecting the name of your business.
Attracts and Keeps Employees
When you have business insurance, it only means that you can protect your business in case something hits it hard. Whether tough financial times or acts of God bring your business down, you need not sacrifice employee benefits. This will be attractive to both job seekers and current workers.
Serves Clients' Needs
You may want to get away without business insurance but many contracts that you need to make may require this insurance. For example, contracts with certain clients may specify that you should have insurance. Leasing your facilities or borrowing money for financing purposes may also need business insurance.
Some Final Words
It is a fact that you do not know what the future will bring. You do not also know what kinds of requirements you will have when you sign contracts with clients, lenders or other entities. The most important thing is that you are always ready with your business insurance policy. It does not only take care of your finances but also gives you peace of mind.
At Insurance Services of Washington Inc., we work hard in making sure that our clients are well-protected with policies that they can afford. To learn more about how we can help you, please contact our agency at (425) 868-1123 or Click Here to request a free quote.