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What Is Business Insurance and Why Is It Important?

Simply put, businesses need business insurance because it helps cover the costs associated with property damage and liability claims.


Business insurance refers broadly to a class of insurance coverage intended for purchase by businesses rather than individuals. Businesses will seek insurance to cover potential damage to property, to protect from lawsuit, or contract disputes.


It's especially important for small business owners to carefully consider and evaluate their business insurance needs because they may have more personal financial exposure in the event of a loss. If a business owner does not feel he or she has the ability to effectively assess business risk and the need for coverage, they should work with a reputable, experienced and licensed insurance broker. You can obtain a list of licensed agents in your state through your state's department of insurance or the National Association of Insurance Commissioners.


When you're ready to get started with an insurance plan for your business, reach out to us for a free quote and we'll be happy to help!