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The main reason for securing insurance is to protect against loss. For a small business, this protection is often more important because loss inevitably affects cash flow and there is a limited to zero capacity to fund such a loss. To minimize or avoid this situation, there are three most common types of business insurance to consider as introduced below, and that may be obtaining using a convenient online application process.
| Type of Insurance | Application |
| Business Property Insurance | Covers damage to your business or property including a variety of property categories such as lost income or business interruption, buildings, computers, money, and valuable papers |
| Business Liability Insurance | Covers damages to third parties such as in the event of a lawsuit for personal injury or property damages. Three types of liability insurance include general, professional and product liability insurance |
| Workers Compensation Insurance | Covers on-the-job injuries to your employees including medical care, part of lost wages and permanent disability. If you have employees, this type of insurance is required |
| Other Specialized Insurance Protection | There are also many forms of specialized insurance to protect against loss including Auto and Truck, Building Contents, Business Owner Policy, Crime, Directors and Officers, Key Man, Employment Practices, Errors and Omissions, Fidelity and Surety Bonds, Home Based Business and Umbrella insurance |
There are many great reasons for securing a business loan including:
- Protect against loss to your business property
- Provide for cash flow in the event of business interruption
- Plan ahead in the event of a loss of a key member of your team
- Ensure that your complying with the law by protecting employees in the event of injury
- Insure against damages caused by product use or misuse
- Secure a strategy for loss or damage to computers
- Provide for protection against crime or theft
- Support uninterrupted business operations with insurance as a back up
- Protect cash flow by insuring against unexpected losses
- Sleep better knowing your assets are protected
Select from any one of the links below to learn more about a range of small business financing tools, as well as sources of small business loans.
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