How much insurance do you need (more than the suggested minimum)? What insurance is your business required to have to operate? What kind of insurance does your business need? Peter M. Tillman of American Family Insurance encourages anyone with a physical business to get Liability Insurance.
Whether you are a business owner who owns your building or rents from a landlord it is important to maintain a good level of liability on your property. Liability protects you against bodily injury, property damage, personal injury as well as advertising injury.
Business liability covers operations on and off premises, as well as damage to the physical premises rented to you.
Personal injury and advertising injury are also covered under your liability. These coverages protect the business owner against malicious prosecution, libel or slander, as well as protecting your advertising ideas.
Liability coverage is just one of the many insurance needs a business owner should consider in order to fully protect the business. Talk to your insurance advisor to find out if you have the best liability coverage for your business or if you should adjust your policy.
In order to know what to insure, you have to know what you have. Contact Quality Accounting Solutions to help you get your financial records in order.