In today’s uncertain business environment, it is crucial for businesses to protect their assets and minimize potential risks. Insurance plays a vital role in safeguarding a company’s financial stability and ensuring its long-term success. In this article, we will discuss four ways businesses can use insurance to secure their
assets and mitigate potential losses.
- Property Insurance
Property insurance covers the physical assets of a business, such as buildings, equipment, and inventory, against damage or loss due to theft, fire, or natural disasters. - Liability Insurance
Liability insurance protects a business from financial losses resulting from claims of injury or property damage caused by the business’s products, services, or operations. - Business Interruption Insurance
This insurance compensates a business for lost income and additional expenses incurred due to a covered event, such as a fire or natural disaster, that disrupts normal business operations.
- Key Person Insurance
Key person insurance provides financial protection to a business in the event of the death or disability of a key employee or owner, ensuring the continuity of the business and covering costs associated with finding a suitable replacement.
Business owners can benefit from a thorough review of their current insurance coverage. Insurance Plus, a sister company of Accounting Plus, offers a free no obligation review of business policies to identify gaps in coverage as well as to find ways to save on annual premiums.
Why choose Insurance Plus? Their team has a combined 60+ years experience in the industry, plus they work alongside accountants each day so they’re in tune with the unique demands and challenges of business owners.
Insurance Advisor
Matt has worked in the insurance industry for nearly 20 years. He began in the industry in auto and property claims before owning his own insurance agency for 6 years. Holding SBCA and PWCA designations, Matt has been with the Insurance Plus team for 2 years. He is passionate about meeting new clients and advising business owners and individuals on how to protect their assets with insurance. In his free time, Matt loves being outdoors, playing golf, duck hunting, spending time with his dog, Madison, and hanging out with friends and family.
