While no one questions the wisdom of corporations securing business insurance, some owners of small companies wonder if the expense is really worth it. The fact is that every business operation should be covered by insurance. Here are some of the reasons why Small Business Insurance must be thought of as a necessity and not an optional expense.

Recovering from a Loss of Inventory

Even small businesses that are mainly Internet-based still have some sort of inventory. That inventory may be in the form of computer equipment like workstations and servers, but suddenly losing those supplies and any related inventory can be devastating. Since many small business owners operate without the benefit of a significant financial cushion, having to replace items stolen or destroyed in a fire could be impossible without some sort of help. If the owner has business insurance in place, the funds needed to replace the lost items and keep the business running will be there.

Dealing with Injuries

Just as with larger corporations, the owners of small businesses must consider the possibility of being held liable for some sort of injury to a customer. The injury could come about due to a malfunction of a product or the negligence of an employee. In any case, the resulting financial burden can be significant. If the business is protected by liability coverage, the odds of weathering the event and continuing to operate are much higher.

Building a Customer Base

Not everyone understands that some clients will not do business with a business owner who does not maintain a reasonable amount of Small Business Insurance. The ability to provide proof of insurance can open doors to that would remain closed otherwise. If the owner is serious about growing the client base, it makes sense to have insurance in place at all times.

For any business owner who needs insurance or would like to take a fresh look at the coverage currently in place, contact the team at Perdue Insurance Group today. After reviewing the needs of the client and whatever plan is already in place, an agent can provide advice that will ensure the client is prepared for just about any event that could come to pass.

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