When you’re a business owner, you take into account all the expenses you have to make in order to keep your business operating at top condition. There’s a lot of things to go over – stock, employees, office equipment, etc. On that list, and perhaps near the top of it needs to be business insurance.

Some business owners think business insurance simply isn’t a cost they need to take. Here’s why no business insurance could hurt you more than you know.

Damage to your property could put you out of business

What would happen to your business if a sudden accident or natural disaster wiped out the building or caused it to be damaged enough to prevent business from being conducted? Pretty bad, right? Without business insurance, the cost of fixing the building and the losses of being out of business while it’s being fixed can driver some business owners to close shop permanently.

You could lose your employees

When you’re business isn’t operational, how are you employees going to take care of themselves? Without any proper insurance, your employees might not be covered for days lost and consider working elsewhere.

You could lose your income

This is obvious: if you’re unable to work because of an accident happening to your business you’ll lose money. If your business is your primary source of income that could mean big problems for you and your family.

A lawsuit could deplete your assets

You’ve probably seen it on TV and movies – an employee falls or hurts themselves at the office and uses it to sue the company to get a big payday. Without business insurance, you’ll have to cover all legal costs if some such accident occurs at your business.

Those legal fees could be huge and take up huge chunks of your time.

Business insurance is important

You have a lot to protect, so business insurance is a must. If getting all of the insurance you need sounds expensive and a little complicated, you'll be pleased to know that a single Business owner’s policy can give you the coverages you need in a single package. Talk to your independent agent for more information.

Get the coverage you need. For more information about Miami business insurance, give The Insurancenter a call today.