What Insurance Do You Need as a Small Business Owner?

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There are certain risks that pose threats to your business that shouldn’t have to leave you worried.

When you own a business, you have a lot to protect and the right small business coverage might be important to the continuation of your business’ success. Luckily for you, there are plenty of coverages that you can choose from when it comes to protecting your business. But, do you know what types of insurance policies exist to protect your business from falling to any one­–or all–of these perils? Here’s a rundown of the things to consider when it comes to protecting your small business from the everyday dangers it may face.

Business Liability Insurance Coverage

Even if you are ranked the most careful business owner in the world by Forbes Magazine, you may still find yourself at the wrong end of an accident. There are plenty of situations you could find yourself in that could result in a lawsuit against your business. As Scar said (and ultimately failed to do), “Be Prepared!”

Business Property Insurance Coverage

The most obvious reason to purchase a business insurance policy is to protect your physical space. From the merchandise to the tools (and everything else in between) you use to make your business your business. If a fire destroyed your place of business, would you be able to recoup all of your losses?

Business Coverage Relating to Employees

Depending on the number of employees you have, as well as other factors, there may be additional insurance considerations you may have to consider. Employment practices, for example, help protect you in case an employee files a groundless claim against your business by covering legal fees that arise.

Your business deserves the best possible protection it can get. It will not only give you the piece of mind you deserve but the protection your small business needs to secure its survival. For help acquiring the right business insurance for your business, contact the independent insurance professionals at Risk Management LLC in Brookfield, Wisconsin.

  • Risk Management assisted me in determining the best insurance coverage to match my business’ risks. Not only did their professional staff spend ample time meeting with me to understand my business, but they continue to follow up with a phone call on a regular basis. I’d consider each of the members on the Risk Management team a true asset in my corner, as they assist to resolve complex insurance issues including GL, Med-pay, business interruption, unemployment insurance, and most importantly, claims management. Their ongoing research in the insurance industry allows my rates and coverage’s to be best in in class, which helps me to remain competitive in my industry.

    -Steve, S. former owner of Helium Trampoline Park

  • “When we want develop partnerships with vendors, the deciding factor is always based on a single question…Do they pick up their phone? At Risk Management, they pick up their phone. In the indoor trampoline park industry, we have dealt with several insurance agencies that were always more concerned about their commission, not building a business relationship or serving our needs. On more than one occasion, Risk Management has stepped in and helped us with carrier/policies issues that the incumbent agencies had dropped the ball on. There was no financial reward for Risk Management in these situations, they see a problem and help fix it. They just do business the right way. Steve Young and his team at Risk Management represent us, not the carrier. We highly recommend Risk Management.”

    -Mark M. Operations Manager,CEO Fun Palace Place

Address: 21420 W. Greenfield Ave Ste 100
New Berlin, WI 53146
(262) 785-8930
Toll Free: (888) 857-5144
Fax: 1 (800) 424-3955
Risk Management LLC BBB Business Review

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