6 Interesting Arguments for Insuring Your Small Business

We all know with any small business, accidents can happen. But that can’t be the only reason to invest in insurance for your small business, right?

Hold up, you said INVEST in insurance, not buy…

Here’s an interesting twist: rather than thinking of insurance as paying for something you hope you’ll never need (a defeatist thought if ever there was one), why not look at your insurance policy as what it is: an asset?

We mention this a lot in this blog, but the thinking is sound. An asset is something that you can leverage for a rate of return. Well, in approaching your insurance premium as the investment, you can see how paying a moderate sum each month can add up to a huge ROI the moment your small business needs to file a claim.

OK, that’s one reason, but what are some others?

We snuck that one by you, admittedly. But there are several other reasons to invest in insurance for your small business:

Partnerships – Hitching your wagon to someone else’s star can have a host of consequences, not all of them good. The right insurance plan can protect your small business from the big let-down of busted partnerships.

Cyber-security – It makes perfect sense, but did you know there are plans that cover sensitive data breaches, bank account phishing, and a cyber attack on your small business? Having one of these plans is vital to doing business in the digital age. And, it’s just smart.

Bundled Services – Everyone seems to be into bundled services these days. There are plans called Business Owners Protection plans that can group a number of insurance plans into a single umbrella coverage.

The Public – dealing with customers is at the same time why we do business and why we hate to do business. When you open your doors (actual or virtual) to the public, you get a bit of crazy with it. Insurance can help you keep the crazy at bay without having to close your doors.

Going International – Do you use the internet for your small business? Then you are doing business internationally. It’s called the World wide web for a reason. And with other countries on the customer list, you will need a robust insurance plan. Capisce?

Regardless what business you’re in, you’re dealing with a jack-in-the-box if you aren’t insured. It is only a matter of time between your day-to-day business and an accident or negative circumstances. Don’t wait until your company is under the gun, get your small business insured today.

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This post was written by SMB Insurance