Business is all about promises. The more you fulfill a promise, the stronger your brand becomes. Take, for instance, Amazon. It’s a business built on a promise. And that promise is the promise to deliver goods. When someone orders online, he anticipates the product being delivered right to his door as he prescribed it.
And Amazon does just that. It has become the unquestioned leader in e-commerce, shipping over 2.5 billion packages year in year out. Amazon’s internal delivery service, Amazon Logistics, is third only to UPS and FedEx in the number of deliveries nationwide. Pretty soon, pundits predict it will outpace the country’s leading logistics companies in packages delivered yearly.
As diligent as Amazon deliveries are, accidents happen. Not every parcel arrives safely into the hands of the person who ordered. Worse, all the focus on delivering orders on time has resulted in drivers getting into accidents, resulting in untimely deaths.
That right there tells you why insurance matters. No matter how hard you work your business, things beyond your control are bound to happen. Getting insurance when you start a business is wise.
Protect Your from Lawsuit
What is your business? Are you into the restaurant business? Or are you into retail? You can name all the businesses you want, but one thing will stand out like a sore thumb. Businesses involve risks. A restaurant owner can be at risk of his establishment catching fire, endangering workers inside. A buyer could risk slipping in a retail outlet. All this could lead a business to be named in a lawsuit.
If your business is under litigation, that could mean you’d have to shell out for the extra expense of hiring a lawyer, but not if insurance can’t help it. Insurance can cover some expenses and payments you need to pay. There is insurance that covers schools for driving, sports and martial arts; this means that you can protect your business in any situation.
Ask for an insurance quote for your establishment. By getting your business insured, you ensure you won’t have jitters and the cold shiver running up and down your spine when one of your students gets injured while doing his routine in a dojo. You can breathe easy; you’re pretty much covered should lawsuits knock at your door.
Protect Your from Damages
Any business can be drastically affected by unforeseen events such as a natural disaster. If you operate a brick-and-mortar store, your structure could fall prey to a storm or flooding. Having an insurance policy that covers your inventory and your structure is wise in this regard.
Think about it. Without insurance, you are left to tend to the cost of flooding in your physical store. Imagine the financial loss that will mean to you. Such damages can run into thousands of dollars if you’re not careful.
In your martial arts school, your equipment could be damaged. Taking out timely insurance can protect you from such unplanned damages which could hit you like lightning.
Protect Your Employees
Are you planning to put up a construction business? Or how about a security agency? It doesn’t really matter what kind of business you’re putting up; chances are you need employees to make things happen. Without your workers, your business can come to a grinding halt.
Having insurance that covers worker compensation is spot-on. This is especially true when your business is labor-intensive. When you do so, you ensure your workers are pretty much covered should they get injured on the job.
Even better, you provide a boost in confidence to your workers. Insurance tells them that they’re taken care of. And that speaks volumes about your company. It shows how strong your brand is, inviting worker loyalty in the process.
Protect Your Business No Matter the Size
It won’t matter if your business has five or 500 employees; you need insurance to help you settle. If you’re thinking that getting insurance would be a waste of time, think again.
To boot, you’ll find it rather an uphill climb if you choose to get a loan, but you don’t have insurance. Lenders will be hesitant to grant you the money you need. For example, if you want to take out a loan to buy real estate, mortgage companies will ask for proof of insurance.
So no matter how winnable your business model is, if you can’t get insurance for it, your business could be destined to doom. Then, there’s the case for the law. Some states require you to get insurance, or you won’t be able to proceed.
A good example here is car insurance. Wisconsin, for one, won’t allow you to drive your car if you don’t have insurance. Now, if you’re a business in Wisconsin, you will have to get insurance for your delivery trucks. That’s just telling you, more than ever, insurance is for your own good — your people, your business, you.