Do I Need Business Insurance?

Running your own business can be an incredibly satisfying endeavor, but it often a stressful one too. One of the best ways to alleviate that stress is by taking the time to protect yourself, and your business, with the proper insurance policies. Of course, this means considering a business insurance policy. But what does a proper business insurance policy look like? What kind of policy is right for your specific business? These are the three questions every business owner needs to ask themselves to help determine if a business insurance policy is right for them.

Do The Benefits Outweigh The Costs?
The first step is to speak with an insurer in order to get a rough estimate of how much business insurance is going to cost. After you have that number consider the kind of liability your business faces. Do you have a lot of employees? Is there a lot of manual labor involved? Are you fronting capital? All of these things could potentially cost you a lot of money, which means a proper business insurance policy could protect you if something goes wrong. After all, you don’t want to have to close your business if a workers comp claim comes in do you? Preparation is the name of the game for small business and major insurers alike.

Can This Policy Grow With Me?
If you are shopping for business insurance, chances are you are a new business owner. It’s important to remember that your business is (hopefully) going to grow as time goes on. That means that if you do decide to invest in a business insurance policy, that you need one that will grow with your business. Insurance is important, but we know that shopping for insurance isn’t exactly a fun pastime. Make sure you don’t have to do it again by investing in a policy that will grow with your business.

Are You Pulling In Large Clients?
While the idea of a landing a major client may seem like a pipedream early on, the reality is you may start landing big-name clients earlier than you expect. Most large companies will require a certificate of insurance before they sign any contracts with your business. Not being able to provide proof of insurance is a major red flag for most businesses. You don’t want to lose out on what could be a life-changing client simply because you were not properly prepared.

Running a business is complicated no matter how you spin it. Don’t make it more complicated than it needs to be by neglecting to purchase the proper insurance policy. If you want others to invest in your business, you need to start with yourself.

To inquire about a new policy, or to learn more about the one you already have, reach out to TGS Insurance. The TGS staff are experts in the insurance industry and are always willing to work with you to find the right policy for your business, and your budget. Visit to learn more.

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