Oncken Insurance Agency, P.C. Blog
As a business owner, you are already exposing yourself and your employees to different kinds of risk the moment you decide to put up your company. Because of these risks, one wrong move can cause your business to shut down. To protect your business from experiencing these things, specific insurance policies must be in place. Whether you are starting your business now or your company has been up for years, make sure that you have these insurance policies to protect your investments and assets.
Business Interruption Insurance
In the event of a natural disaster or other catastrophes, there might be a need to put a hold on your business operations. By then, your company will surely suffer loss and lose income. You cannot ask your employees to risk themselves and continue to make necessary calls and manufacture products despite the disaster outside. Luckily, you will not have to worry so much about these losses if you have business interruption insurance.
Business interruption insurance is appropriate for businesses that make use of physical locations to continue their business. In case of income loss during disastrous events, this insurance will make sure to compensate the company to make up for the loss.
Product Liability Insurance
If you are joining the general market, it might be a good idea to protect yourself using product liability insurance. You have to make sure that your products are safe. This will also ensure that your products have a name in case someone decides to file a lawsuit because of damages caused by your product. This insurance policy will make sure that your business is protected accordingly to the product that you are manufacturing.
Professional Liability Insurance
Alternatively known as errors and omissions insurance, professional liability insurance will protect your business against negligence claims caused by damages due to failure to perform. However, no one policy can cover all kinds of lawsuits and losses in the industry. Each one has its concerns to focus on. That is why customized systems are essential for a business.
Starting your business must have already cost you a fortune. Protecting it might cost you more, but it is better to be safe than sorry. Avoid significant losses in your company by picking the right business insurance that will suit your needs.
At Oncken Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (281) 256-8310 or Click Here to request a free quote.