Whether you’re starting a business for the first time or looking to increase your business’s bottom line, which small business insurance you go with will make all the difference.

Every business comes with risks. Even if you’re prepared for 90% of them, the few that you can’t account for are the ones that pose the biggest threat to your business. Finding the right business insurance policy can be frustrating for most entrepreneurs. Fortunately, the insurance industry is rife with experts looking to guide customers into the right hands.

Laura Adams, senior analyst at insuranceQuotes.com, spoke with PC360 on what exactly entrepreneurs and home business owners need to know about finding the right policy and lowering their risk.

Common misconceptions

No matter the size of your business, you need insurance. Many small business owners believe they don’t need it because they’re too small.

“Every business — even a small, home-based operation — needs liability coverage, at a minimum. No business is too small to be involved in a lawsuit. Having some amount of commercial liability insurance protects your business if you, an employee, or your products or services cause injury to a third party,” said Adams.

For those who operate from home, there is a belief that their homeowner’s policy will protect. Typical home insurance, however, does not cover business equipment, inventory or liability issues related to a commercial operation, Adams stated. Similarly, a vehicle used for business purposes would not have sufficient coverage through a personal auto policy.

BY DENNY JACOB

See full story at www.propertycasualty360.com