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It is critical for every start-up to get the proper insurance coverage and should be an immediate priority. On a foundation level, insurance is necessary to get funding for a new company.
Whether from a
bank or private investor, nobody will give a new business financial support
without insurance. Additionally, vendors won’t negotiate or sign
contracts for partnerships without the proper insurance and consumers find
businesses without proper insurance to be untrustworthy. Without
insurance, your start-up won’t start.It is critical for every start-up to get the proper insurance coverage and should be an immediate priority. On a foundation level, insurance is necessary to get funding for a new company.
There are numerous
types of insurance coverage necessary for new businesses.
General
Liability Insurance– An
insurance policy issued to business organizations to protect
against liability claims for bodily injury and/or property damage
arising out of premises, operations, products, and completed operations; and
advertising and personal injury liability.
Commercial
Property Insurance –
Insurance that covers any type of commercial property, protecting from
such things as fire, theft and natural disaster.
Worker’s
Compensation Insurance –
Coverage that protects employees and the business. Mandatory in many
states, worker’s compensation covers lost wages and medical treatment resulting
from employee work-related injury or illness, as well as services needed for
recovery assistance and the return to work.
INSURANCE COVERAGE NECESSARY FOR NEW BUSINESSES
Reviewed by TOLAKORE
on
1:05:00 AM
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Reviewed by TOLAKORE
on
1:05:00 AM
Rating:
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