Zein Insurance Services Inc.

Commercial Business Insurance

When you’re just starting out in business, it’s easy to cut back on insurance. Many small business owners believe since they have little money and few assets, no one is going to sue them. Natural disasters? Not likely.

Unfortunately, that’s not how things always work out. Here are three small business realities:

Small companies get sued all the time. Just because your business is a corporation or limited liability company (LLC), that doesn’t mean your personal assets are always protected. Under certain circumstances, you could be held personally liable if you are slapped with a lawsuit. That’s why liability insurance is so vital. Depending on your business, you may need general liability insurance, in addition to professional liability coverage.

Natural disasters can happen anywhere, and many businesses do not survive them. Weather patterns are unpredictable, especially when flooding occurs. Disasters are expensive.

Aside from specific disaster coverage, there’s also business interruption coverage. This type of insurance provides compensation for your business if it’s temporarily shut down due to a disaster.

Many businesses do not survive the death of an owner. Statistics show that many businesses crumble after the death of an owner. Life insurance can help your business survive if something happens to you, and protect your family and/or your business partner from financial disaster.