There are countless types of insurance coverage policies. For example, insurance companies have policies to protect individuals in the event that they lose a limb as a result of someone else assaulting them. The aforementioned coverage is highly specific. Since insurers are even willing to craft customized insurance coverage policies for clients, there are literally a number of insurance policy possibilities in the millions or billions. Further, most types of insurance coverage don’t cost very much and are well worth the money spent on them. After all, small businesses are better off spreading the weight of being forced to give away $100,000, for example, over several months or years than paying the entire amount in a lump sum.

Most Small Businesses Faced No Costly Incidents In The Past Year

According to a survey conducted by Insureon, roughly 65 percent of United States small businesses – roughly two-thirds of them – polled experienced zero major incidents at their places of work or that were linked to their entities’ operations or performance in the past year. However, since one-third of small businesses that were polled did, in fact, experience a costly incident in the previous 12 months, getting insurance coverage against major accidents is a good idea.

Clients Complain Too Often, Especially About Contracts

To be fair, the majority of clients only take businesses to court about contract disputes if they genuinely feel they were done wrong. Nearly one-fourth of businesses polled by Insureon were hit with contract disputes that went legal in the past year.

One In 10 Businesses’ Workers Got Injured

Workers’ compensation claims are far from cheap. Small businesses sometimes go out of business trying to pay them. As such, workers’ comp insurance is a great idea for small businesses, especially considering the fact that 10 percent of businesses polled had experienced such an issue in the previous year. Understanding what types of business insurance in Peoria AZ your business needs is difficult. You should always consult with professionals like our team members at Henderson Anderson Insurance to figure out the best ways to cover your entity in case something serious and seriously expensive happens.

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This entry was posted on Sunday, February 10th, 2019 at 3:05 pm and is filed under Business Insurance, Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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