Congratulations, you started a YouTube channel and one of your videos has gone viral and you have morphed into an entrepreneur. You now have a product or service to sell; you are on the right path to building a successful business.
As a business owner you realize you have a multitude of moving pieces that must be taken care of – one being the need to insure your new venture and assets.
Important components to insure:
- Your property
- Your computers, office furniture, equipment, and any other business personal property you need to run your business
- Your space
- Home-based operations? Your homeowners or renters insurance may not cover you if you are operating a business
- Renting space? Your landlord may require you to submit a certificate of insurance and name them as Additional Insured
- Purchasing a building or condo for your business operations and taking out a mortgage? You will be required to purchase insurance prior to the closing. And if you do not have a mortgage, it is important to insure your investment
- Whether you are renting or purchasing you must insure your location
- Your liability
- Insurance will protect and provide you with defense against lawsuits arising out of you or your employee’s negligence. For example: personal injury or property damage claims such as your product causes injury to someone or an entity, someone trips and falls while visiting your business location, or your product damages someone else’s property.
- Workers’ compensation– If you have employees, you are legally required to carry Workers’ Compensation insurance. This covers lost wages and medical costs due to an on the job illness, or injury.
- Disability benefits insurance – covers lost wages due to an off-the-job injury or illness.
- Professional Liability– Do you give professional advice or provide a professional service? If so, you should consider purchasing Professional Liability insurance.
Has this got you thinking? Getting all your answers from Google may not be as easy as you think. Google does not know your business. However, by contacting an Independent Insurance Agent like ourselves, will connect you with an insurance consultant that will provide you with ALL your answers !
Please don’t let your dream be destroyed by an uninsured event. Think about it and contact us today!