If you are thinking that running a business is not a big deal then, mind you, it’s not a child’s play either! Whether it’s small or large, a business walks on thin rope. Every day is a new challenge. In business terms, its risk factor that gives rise to threat. Thank to wise business brains which conceived the concept of INSURANCE!

We invest our hard-earned money in it for striking at good returns. It’s essential & so is the risk that is likely to flash at every phase of your business, either it is capital investment or inking partnership deed. As we have ‘Insurance’, so we need no other cover-up of risk. An intelligent businessman plays with brain and approach for business insurance services to minimize financial risk.

How can risk hit a business man?

Capital investment, employees, payrolls, assets are tangible risks that fall under ‘Certainty’ banner. But what should be the answer to uncertain risk factors, such as sudden death of a partner, injury to employees, a lawsuit & natural disasters etc.? These, too, exist and stand as barricades on smooth running of business. You, as a business man, can’t shut your eyes & bypass them like an ignorant. They make their presence felt until & unless they are dealt with. Would you put the shutter down and wind-up your business, or, go for insurance to cover-up these all?

Of course, law has not declared it ‘mandatory’. But still, small corporates to business tycoons- every corporate prefers to purchase insurance for minimizing risk over certain as well as uncertain factors. However, insurance is a corporate’s need but beware! Are you approaching for any insurance &, above that, without going through its extensive research? You want complete protection from business liabilities & risks. So, think in-depth about it.

Types of business insurance

Liability Insurance:

This insurance is a pan cover of various legal claims affecting day-to-day business operations, including bodily & personal injury along with property damage. It is better to insure your business operations timely; otherwise, your efforts can be collapsed all of sudden.

For encountering every imaginable business liability risks, you have:

· General Liability Insurance

· Product Liability Insurance

· Professional Liability Insurance

· Commercial Property Insurance

· Home-based Business Insurance

Employment Insurance:

Meeting the specific requirements of a small business, employers are required go for their coverage:

· Workers’ Compensation Insurance

· Unemployment Insurance Tax

· Disability Insurance (in certain states)