Business Insurance Education

Small business liability insurance will protect your business assets in the event you are sued. With lawsuits clogging the courts, you'll want to maintain a proper amount of business liability insurance to protect the business you've worked so hard to build. Your company can be sued for something it did — or even didn't do — that resulted in injury or property damage to someone else.

Small business property insurance can be purchased on the basis of the property's actual value (the replacement cost minus depreciation), its replacement value (the cost of replacing an item without deducting for depreciation), or on an agreed-upon amount (commonly used for art objects and other unique items). Basic property insurance will generally cover your losses in case of....

7 Ways To Keep The Workplace Safe: 1) Ensure each employee receives a workplace-safety manual, including mission statement, rules, and safe work procedures; 2) Conduct regular inspections of the facility to identify and correct hazards such as poor lighting, unsafe storage, and ergonomic standards; 3)Have adjustable workstations in order to reduce stress injuries. Plus, 4 more great safety tips.

Your state has its own workers comp requirements that you must comply with, including a menu of illnesses and injuries that qualify as a workers comp claim. It also mandates the level of benefits you must provide to your employees. These rules will typically address the amount of medical coverage you must provide for each employee and the percentage of the employees' salary that you must pay.

There is a significant risk involved in owning or operating a business of any size and without small business insurance, companies would have to set aside a substantial financial reserve in the event of a loss. Unfortunately, some types of losses would be so devastating and costly to a business, that recovery would be impossible.