Owning any size business comes with many risks, but the failure rate for small businesses is very high. Anything that you can do to lower the risk level is good. One thing that every small business should do is have commercial insurance. In Denver, CO, that means talking to AFI Insurance. As independent insurance agents, we work for our customers, not the insurance companies, and we can offer more options and the best rates.
Commercial property insurance
While no insurance can protect your small business from every danger it faces, commercial property insurance can mean the difference between being able to operate and having to close up shop. You can’t operate if you don’t have a place to operate or the things you need to operate. Commercial property insurance can help you replace or repair the things you need to do business, such as machinery, tools, inventory, raw materials, electronics, and office equipment.
Commercial liability insurance
Getting sued is one of the biggest dangers that every business faces. By their very nature, small companies are more vulnerable than big businesses. A judgment against your business can force you to close forever. Most small businesses have a small profit margin, and the chance of having the money on hand to pay is pretty small. If you need to sell your company to pay the judgment, that will leave you without a business.
Business interruption insurance
Most small businesses run on a pretty tight margin. You can pay your bills and salaries, but especially in the early years, having a lot of spare cash isn’t going to happen. If your business is closed because of a covered hazard, you need a way to keep the bills paid while you are waiting for repairs to be made. Business interruption insurance can do that.
If you live in or near Denver, CO, contact AFI Insurance for all your commercial insurance needs.