Charles Goodman Group: Trusted Bedford Insurance Agents
Starting a small business is a risky endeavor. Most small businesses begin with limited capital. Therefore, small business owners try to save money wherever they can. Some make the mistake of trying to save money by purchasing just enough insurance to meet government-mandated requirements. However, when the time comes for them to file a claim, they realize that purchasing minimal insurance can be very expensive in the end. Sitting down and talking to a Bedford insurance agent is a good way for small business owners to get a feel for which insurance policy will be right for their small business needs.
An insurance policy that does not provide adequate coverage is worthless. If in the event of a natural disaster, accident or act of vandalism a business owner has to pay a large amount of money out of their own pocket on top of what was covered by insurance, they may quickly find themselves facing bankruptcy.
In addition to the forms of business insurance that are mandated by the government, business owners may want to look at other policies based on their small business needs. For example, property and liability insurance provides protection for the buildings and equipment that a business needs to operate. It will also provide protection in the event that someone is injured while they are inside of the property. Business owners who have chosen to purchase a policy of this sort and then find themselves needing to file a claim are happy they made the decision to purchase the policy.
A trusted Bedford insurance agent from the Charles Goodman Group can assist you with any questions regarding property insurance or life insurance.
Businesses that work with the documents or property of their customers should consider purchasing errors and omission insurance. If they or their employees make a mistake or if they omit something from a document and because of this error or this omission their customers lose money, this policy would kick in to cover the money the customer lost.
During the hiring process, all businesses preform background checks. However, background checks in themselves do not protect a business from liability for the actions of their employees. Criminal liability insurance will protect the business and the business owner if their employees commit a crime while they are carrying out work related business.
Business owners insurance is different from general liability insurance. Business owners insurance provides protection for the business owner from personal liability. Any lawsuit filed against the business owner will be covered by the insurance policy up to the limits stipulated in the policy.
In addition to the above-mentioned optional forms of business insurance, there is business continuation insurance, product liability insurance, insurance to protect executives of the company and a whole host of other insurance policies. While purchasing these policies may add to the premium paid by a business, in the end, the protection they provide is more than worth it.