Insurance – A Necessity For Your Business

So you’re listing down all the things that need to be taken cared of as you progress into opening your new business. Don’t forget insurance. Yes, insurance. No matter what business you may be in, the food industry, retail stores, house cleaning, business – whatever it may be — needs to have insurance coverage. There are a few areas of your business that needs to be covered by insurance in order to protect you and your business.
Liability Insurance
This kind of insurance protects you, the owner, from losses if ever you get to face lawsuits. You see in the cleaning business, opportunities sometimes become disasters if not well prepared for. So by having liability insurance, you are protecting you and your business from any losses in case a client sues you for alleged negligence. This insurance will pay for the judgments which are against you, as well as other legal fees, including your expenses incurred on the defending yourself in court.
Property Insurance
This insurance is the one that covers all your losses if in any case your business gets damaged or gets hit by theft. This kind of insurance is similar to that of a homeowner’s insurance. Most people who have their offices at home don’t bother because it is covered, most likely, by the homeowner’s insurance already. However, cleaning business tips from businessmen do suggest that you upgrade your insurance so that it may cover your office equipment, even if it is at home.
Life and Disability Insurance
This insurance covers the portion of the income that your family makes that is contributed by you just in case you get sick or not able to work for an extended period of time. This ensures that your family will be taken cared of even if you cannot work during that time.
Business Interruption Insurance
This insurance covers your bills and lost profit while your house cleaning business is out of operation as caused by natural disasters such as fire, floods, earthquakes, and so on.
Car Insurance
If you use a vehicle in your cleaning business, opportunities can be increased, but you do need to have the vehicle insured too.
Health Insurance
This insurance covers your health expenses. This is different from the life or disability insurance. This covers expenses such as doctor’s consultation fees, hospitalization bills, and so on.
A lot of cleaning business tips pushes new business owners to make sure that they are covered by insurance because it is during these times that unexpected things come and it is best to be prepared as you invested so much time and money on it.

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