Insurance is designed to protect our life, health and property. You sign making business should not be caught without insurance of some kind, and most of us would do well to add a plan or two.
Insurance may be a bit of a pain for each of us, but not having it can cost you dearly. Who wants to put money out when the return is somewhat hazily off in the future?
Consider implementing the following types of insurance to properly protect yourself, your signmaking business, and its employees.
- “Key man insurance.” This type of insurance is designed to protect your business if you lose a partner, or a key employee. You should also insure yourself as a key man, which will serve as a protection to your spouse and family members.
- Health insurance. If your business offers health insurance it immediately becomes more attractive to employees. You are more likely to recruit and keep quality workers if you offer some sort of health insurance benefits through the small business. In addition, insured employees are able to stay healthier and more productive, provided they take advantage of their health benefits.
- Life insurance. This is an additional benefit you make consider making available to your employees. Make it a term policy and offer it your employees. Don’t forget to underwrite it as an added value.
- Property insurance. Theft and disaster can strike at any time. Property insurance protects small businesses from a number of losses when met with such unfavorable circumstances.
- Car Insurance. Direct car insurance іѕ exactly whаt іt describes, уоu make аll thе cover arrangements уоurѕеlf аnd purchase thе policy directly frоm thе Insurer whо underwrites the cover. Thе advantages оf buying ‘direct’ аrе thаt іn ѕоmе cases thе premiums offered wіll bе lеѕѕ thаn іf уоu bought thrоugh a middleman, thоugh thіѕ іѕ bу far thе case fоr thе majority іn reality. If you are taking life insurance then the companies will require insurance as a must.
The exact kind and type of insurance that each small business chooses to employ will obviously vary, as no two businesses are exactly alike. Analyze the needs of your business and speak with an insurance agent about what types of insurance coverage are right for you. Consult with employees as to what type of coverage they would like to have. Consider consulting your attorney to ensure that your business is properly covered in case of an accident. The most important thing is to take into consideration what your small business, your employees and you personally need before pursuing any type of insurance plan.
Most states have PDF guide to small business or commercial insurance; just Google “Your State guide to small business insurance”. Here are a few links to a PDF guide for business prepared by Wisconsin and Florida, and some tips for Mountaineers about getting small business insurance in West Virginia. All of these are helpful reading regardless of the state your sign business is in.
What type of insurance coverage have you found absolutely beneficial for your small business? Please share it in the comments sections below.