For many businesses who are just getting started or in the first years of operations, it is easy to skip purchasing a comprehensive insurance package and put resources into growing the business. However, business owners often learn this is a costly mistake once they are hit with a loss that they are not able to recover from financially.
If a business does not have have a liability policy, it is left exposed to lawsuits if a customer is injured on premises. The legal costs alone to defend your business in a lawsuit can be enough to destroy a business let alone any damages the business many need to pay. A liability policy offers peace of mind that you will not be caught covering the cost of a legal battle.
A business interruption policy can help pay the bills and compensate the business for lost income in the event of a fire, flood or other disasters. No company can predict the future, but you can protect against losses from delays in operations. If you are a business in the Orange Park, FL area make sure to ask your agent at First Florida Underwriters Inc about BI coverage in the event of a hurricane.
When a small business can actively show potential clients that they have a comprehensive insurance package in place, you will be able to compete with the larger competition. There clients out there who will not do business with an entity that cannot show proof of insurance.
In addition to attracting clients, a comprehensive insurance package will help you recruit top talent. Top job seekers are going to look for employers who offer insurance packages that include disability and health insurance options.
If you would like to learn more about commercial insurance, please reach out to First Florida Underwriters Inc. We proudly serve the Orange Park, FL area.