Business Insurance

Business Insurance

Most people recognize the need for home or auto insurance since they would be unable to replace their home immediately if there was a fire or to replace their automobile if there was an accident. However, not all are aware of the same kind of need to insure their business against perils and personal liability that reduces the risk in virtually the same way.


“Business Insurance” is an all-encompassing title for different coverage offered to the business owner to safeguard against losses and to insure the ongoing operation of the business. It is also used to protect the business and the business owner if unforeseen events and liabilities occur to the business.

The object of business insurance is to ensure that your business that you have worked so hard for covers those events and liabilities that are most likely to happen and, most importantly, to never find yourself without insurance protection.

Business insurance is an essential protection against events such as personal liability, which means that a business owner or owners can be held personally responsible for personal injuries or damages sustained on the business property or during the course of normal business operations.

An event of damage, injury or loss that occurs at the site of business might lead to the financial downfall of the business. By holding business insurance, you reduce the risk of liability and protect your business investment as well as the jobs of those employed under your care.

Examples include:

Fire and theft insurance which would cause an owner to lose their business property
Protection of inventory loss
Protection of equipment loss
Protection in case an employee is injured on the job

Any individual or group who is considering the start of a new business or who is buying an existing business would do well to research the types of insurance they will need for that business.

One good addition is that while business insurance is regarded as an expense, it is also often tax deductible.

There are many details of running a successful business, however, ignoring this insurance detail may cost you everything that you have worked so hard for and earned. Talk to a licensed Western States Insurance professional at our office in Spanish Fork Utah today about how to protect your business future from loss or liability and to give you peace of mind. For a business insurance quote, contact us for a comparative review.

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Let us help you find the right balance of value and protection.