When you own your own company, you need to take every measure to protect it, your workers, and your customers. You have no way of knowing if or when something will happen that could cost you a significant amount of money in damages.
To head off any eventuality as easily as possible, you must purchase a policy that covers a wide scope of circumstances, such as theft, vandalism, storms, and accidents. You can get that coverage when you invest in a business insurance policy for your company.
Protecting Your Workers
The people who work for you expect you to protect them if or when accidents occur. They may not be legally obligated to cover their own expenses if, for example, a customer hits them or something heavy falls on them while they are on your time clock.
When such incidents occur, you need to make sure that you can cover your workers' expenses as required by law. Your business insurance can kick in during those times and pay out most or all of your injured workers' medical costs. It is available for your workers to make a claim against and from which to recoup compensation that personal injury laws in your state stipulate to which they are entitled.
Protecting Your Customers
Your business insurance can also protect customers if they are hurt or defrauded by your business. For example, if they slip and fall while shopping in your building, your customers have the right to make a claim against your business insurance. You are obligated by law to cover their medical costs related to the accident.
Further, if a worker accidentally or purposely defrauds your customers, they have the right to recover damages from you. Your business insurance can cover any judgment or settlement that your business might be subject to because of legal action that your defrauded customers take against you.
Protecting Your Building
Finally, your business insurance can protect the building in which your company is located. It can pay for repairs if fire, storms, and other tragedies befall your building. It can also pay for inventory or equipment lost to theft or vandalism.
Business insurance serves an important purpose for your company. It protects workers that are hurt in accidents while on the clock. It also can pay for damages for which your customers sue you. It likewise pays for damages that your building suffers.
For more information, contact a local insurance provider.
