October 18, 2018


As an entrepreneur you should keep in mind that a lawsuit or a catastrophic event can destroy the business that you have worked so hard for. Are you protected?

An entrepreneur is exposed to an endless number of obstacles and risks from the minute you start your business which is why it is important to insure your assets. There are many types of insurances that can save your business from unexpected events. It is important to be informed about these types of insurances.

Every business should be insured according to their type of business. In today’s article we will talk about the 5 types of insurance that every entrepreneur should have according to Entrepreneur magazine:

1. Business owner policy

This policy offers civil liability coverage, if a member or product of your business causes damages to third parties.

In the case of suspension of activities, this policy covers the loss that the business has because of the interruption of activities. For example, it covers the losses that are generated in a call center, when the light is cut off due to a storm or outage.

We know that there is not a policy that covers the needs of all business, however, there are many policies that are highly customizable.

2. Property liability policy

This policy insures the equipment, inventory, furniture, workspace, etc. If for some reason there is a fire in your workspace, a robbery or strong winds that destroy part of the furniture, you will be covered.If your business is in your own home, you should consider insurance this type of insurance.

Disasters caused by nature such as floods or earthquakes, are probably not covered by a standard policy. You should also know that the property damage insurance for the deterioration of the property are not covered by this type of policy.

You must ensure that your policy covers losses outside your property, especially if you frequently travel outside the company with valuable property or products.

3. Medical expense insurance

Some believe that it is not necessary to have medical insurance if the type of work performed by employees is of relatively low physical effort, however it can be a very expensive if an accident happens and work and not having coverage.

4. Auto insurance

We recommend that you have auto insurance that covers damages to third parties, the employee who drives the car and the vehicle.

If your employees use their own vehicle for work purposes, they must also be insured, to protect the driver and third parties.

5. Life Insurance

An entrepreneur is always committed to his company, but above all to his loved ones, so he must provide his family with the peace of mind of having an economic support in case of death, illnesses or accidents.

– Business insurance

Having protection for your company is as important as having insurance for your car or medical expenses. Being insured can make the difference between losing your business or taking it to success.

Insurance for your business will always be within budget, however a catastrophic event without insurance will never be.

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