Don’t Forget Your Small Business Insurance

Don’t Forget Your Small Business Insurance

If you run a small business or are thinking of starting a business, insurance is something you need to have. It doesn’t matter what type of work you do or industry you are in, you need to have insurance.

Just imagine what could happen if you didn’t have business insurance and something unexpected happens that means you have to pay out financially. This could be disastrous to your business and might mean that you have to stop trading.

Let’s say you are a Plumber who relies on your tools and your van. You are about to start a new important contract that is going to be worth a lot of money to you. On the day you are about to start you go outside and your van has been stolen with your tools and equipment in it.

If you had insurance you would be able to quickly claim back the cost of your van as well as your tools and equipment. If you had to stop trading for a while your business insurance may also cover the loss of earnings you might suffer.

If you didn’t have insurance you could suffer serious financial problems. You would have to pay for a new van and tools and equipment, you might also lose out on the contract you were about to start working, losing significant potential earnings.

By not having insurance it is a huge risk you would be taking. In some cases your customers or the people you work for will require you to have insurance so they are sure you will be able to pay any claim they might need to make against you if