If you are wondering if you need business insurance in Wichita KS, you can find the answer by asking yourself a few simple questions. The truth is that most business owners, whether small business owners or large company owners, need to have business insurance. Keep reading to learn why.
One important reason for small business insurance is the law. Put simply, if you are an employer you need to have business insurance according to the law. When you have employees, you are responsible for those employees when they are on your property. If they get injured, you could be facing a lawsuit, and part of a business insurance policy is the workers compensation coverage that will protect you from having to pay for employee damages.
Another important reason to have business insurance is the property coverage. The building where you do business needs protection, just like your home does. If your business property is vandalized, burglarized, or damaged in some other way, your business insurance will pay for any necessary property replacements or for any rebuilding that is necessary.
The business insurance doesn’t cover only the building itself, but also all the things that you keep within that building. Think of how much valuable business equipment that you have there, and imagine the cost to replace it all if there was to be a disaster or some type of major loss. That cost will fall to the insurance company rather than your own pocketbook if you have adequate business insurance.
If your business makes products that are distributed to the public, you may need to add a certain type of coverage to your business policy. You can protect yourself from lawsuits due to defective products that your company makes with defective product coverage. If your business has other specific needs for coverage, ask your local insurance agent for guidance.
If you’re looking for business insurance in Wichita KS, you might want to check out the Andy Woodward Insurance Agency. The insurance agents there are experienced in not only business insurance, but also home, auto, and life insurance. Call them to get the best policy options and prices in the Wichita area today!