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Business Insurance Part 2: Protecting Your Assets

In Part 1 of our series about business insurance we looked at coverage for liability. In part to we will be looking at insurance for business property and earnings. This will cover your business assets and earnings in case of an event that causes damage to your assets and premises. Insurances that fall under this category include:

  • Property insurance – coverage of damage to the business property and building in the event of a fire or other peril.
  • Contents insurance – coverage of assets that are stored at the business premises (it’s important to note that if you are leasing your space the contents of your office are likely not covered by the property owner’s insurance).
  • Business interruption insurance – coverage of loss of income in the event of a fire or other peril causing a business closure.
  • Vehicle insurance – coverage of any vehicle owned by the business.

Protecting your business assets, property and income are important to any company. Not only will it help give you security, it could mean the difference between a temporary setback and the end of your business.

Stay tuned for part 3 of our series on business insurance where we will look at insurance for owners, partners and key employees.