Business Insurance

With an increasing number of people in Surrey opting the entrepreneurial route, business insurance has slowly become essential. While businesses can flourish solely because of the products and services they offer, things can go South quickly with one bad business deal. Several business owners in Surrey, BC, think their home insurance policies will also cover their business, which isn’t exactly the case.

Even if you’re running a part-time business in Surrey, BC, you should consider opting for business to ensure your business’s assets and a vital revenue stream stays protected.

Why Do You Need Business Insurance?

The global economy has changed rapidly, and individuals have started opting out of the 9-to-5 routine. With consistently evolving technology, we’re seeing an increased number of people have started opting for home-based businesses. No matter how big or small your business, you need to ensure you’re covered.

While you may think it does, your home insurance policy won’t cover much of your business’s claims. No matter the nature of your business, you should still consider getting insured. Here are some kinds of coverage options that you can select:

1. Vehicle

If you’re using your vehicle for your home-based business, your auto insurance policy won’t cover you if you get into a work-related incident. For this instance, you will need a dedicated business insurance policy covering all of the elements involved.

2. Liability

If you’re working in situations that could harm you or the people involved with your business, you’re going to need liability insurance to protect yourself. This is also an essential element of business insurance policies.

3. Property

Several different objects and skill sets are needed to run a successful business seamlessly. If you’re running a home-based business, there’s a good chance most of these assets will be inside your home; however, they’re not going to be covered by your home insurance policy. In the event of property damage or loss, you’re going to need a business insurance policy to keep these objects safe.

Covering for Business Interruption

In an odd unforeseen circumstance, a business may have to stop operating because of damage caused by an earthquake, a fire, a flood, a windstorm, hail, water damage, or any other situation one can predict. A business owner may feel helpless in this case since their business may suffer a significant loss in income. In a case like this, Business Interruption Coverage can cover the loss a business owner incurs until all of their repairs are completed.


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