In today’s economic climate where every penny counts, you need to know exactly what insurance your company needs. With so many options available, it is sometimes hard to determine what type of coverage is right for you. The purpose of insurance is to transfer risk that you can afford to cover a risk you cannot afford, so knowing what kind of risk can potentially affect your business will determine the kind of insurance you need. Below are a few types of Insurance for small business as well as some tips on how you can select the best policy for your company.

Business Property Insurance

Business property insurance protects a given business from a wide variety of losses, from small hiccups to major financial loss. While not required by law, it’s a wise investment in the event of natural disaster or calamity. Business property insurance protects your business’ physical assets and should include a broad form of coverage.

Your Business Property Insurance Policy should cover:

• Buildings, if you own the building
• Business personal property including tables, desks, chairs and equipment.
• Loss of income
• Earthquake
• Flood

Most Business Property Insurance policies are tailored to the specific needs of the business and it is important to fully understand your policy.

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