Benefits of small business insurance Blog Details

Call Us: 1-877-700-NEWS(6397)

We Care Product Best Quality

Benefits of small business insurance

Business executives sometimes miss a trick or two by not adopting timely small business insurance policies. Such policies would protect their business from various potential future risks. Saving some funds by not opting for insurance can be really dreadful. In case of a tragedy, the loss can eat up your entire business assets. On the other hand, cushioning the business with insurance has many benefits for future survival. Three major benefits of business insurance are mentioned below:

  1. Liabilities

    Any mishap in the business like injury to an employee results in lifetime liability. In such a case, the owner has to pay for the medical expenses. However, if the business has opted for liability insurance, it helps cover these unforeseen expenses.

  2. Protection from Natural Disasters

    Natural calamities are not in our control such as flood and earthquake. Along with their unpredictable nature, they also render large amount of devastation to the business. It is very difficult to prepare in advance for these disasters. Hence, it is always a wise option for the companies to secure themselves through small business insurance.

  3. Loss and theft

    Many businesses which keep large amount of inventory, have a high risk of being gatecrashed resulting in volumes of losses. For a start-up, theft can prove to be its permanent shutdown. In such situations having insured against thefts and related losses, the lost assets can be recovered back. Financial support from insurance companies helps in such recovery.

Reasons for adopting business insurance

Running an entrepreneurship venture can be a tricky business as there are a lot of risks involved. An unexpected tragedy could destroy your entire property or employees could be injured. A client could file legal suit or your business could breach contractual rules. Because of such risks, it is highly important for the business to protect its assets. We have listed top six reasons for insuring your business.

  1. Legal formalities

    In some countries or regions it is mandatory for the business to opt for certain business insurance. These business insurance could be related to employee compensation, disability or maternity. In case the business fails to opt for these insurance it could land in criminal offence.

  2. Protection against allegations

    Opting for liability insurance would help the business with peace of mind. It is important for the business to keep a list of calamities that could lead to lawsuit.

  3. Efficient business operations

    In case of an unpredicted calamity the business incurs huge amount of losses. As a result, the business operations get halted. Insured businesses however are saved as they are compensated to be able to continue their production processes.

  4. Credibility

    Insuring a business makes it more credible to its stakeholders. It is due to the fact that they feel secured while associating themselves with the business. Therefore, businesses should have licensed and insured statements.

  5. Protecting employees

    Employees are the most valuable asset for the business. Hence it becomes very important for the business to protect its employees. The business can opt for insurances securing their employees from injuries or other job related disabilities.

  6. Future planning

    As business risks are many times unpredictable, it is highly important to opt for insurance. This will cushion the business from such tragedies. Insured businesses attain peace of mind to be able to concentrate on future planning.

NEWS Insurance Service, Inc. is an insurance company located at Newport Beach in California. It is a one stop solution for various types of insurance. Do contact newsinsurance to get your business insured today.

21 March 2015
Business Owners Package Article

Is a Business Owners Policy Right For My Business Right Now?
You’ve worked so hard to start your own business, so the undeniable answer is "Yes". Your business is everything to you and it's important to keep your #1 asset protected with the right coverage.

25 Jan 2018
Office Building Insurance

Every office building is susceptible to unpredictable risks such as fire, theft and vandalism or employee injury almost daily. A devastating event can destroy everything you’ve worked hard for in a matter of minutes. Office building insurance can protect your building, property and your employees, thus insuring that your business continues to grow and thrive.

Why News Insurance?

# 1 Customer Service

We are by your side every step of the way.

Best Pricing Available

We will shop until we find you the best deal possible.

One Stop Shop

No need to go anywhere else for insurance. We offer personal and commercial insurance.