Sole Proprietors and Business Insurance
Sole Proprietors and Business Insurance
Business insurance is an important part of any company’s business plan, no matter how large or small. If you are a small business owner, especially if you are the sole proprietor, the importance of sufficient business insurance is even more significant. It may not seem fair, but it is true.You may have less resources than a larger company but business insurance can actually be more important.
Large corporations, for example, are protected by their organization. Owners of these companies or their shareholders will seldom be held accountable for the actions of the corporations. Their personal wealth is certainly rarely at risk.
Even owners of smaller companies who have set up a corporation or LLC will have some protection from being personally sued or being held accountable for the company’s actions. A sole proprietor, however, may not have such protection. Not only may the company’s assets be at risk but personal wealth as well. This is why business insurance for a sole proprietor is so critical.
Business insurance can protect real estate and property like furnishings, computers, and inventory. It can provide coverage against calamities like fire, storms and even vandalism and theft. Perhaps most important for a sole proprietor, it can provide vital liability coverage. Should a small business face a liability claim due to an injury or the actions of an employee, the liability provisions of a business insurance policy can take care of legal costs and any settlement or judgement costs. This not only preserves the assets of the company but of the sole proprietor as well. This is important to remember if you are a sole proprietor, including those operating a home-based business.
Sole proprietors are on the front-line of small business owners and can be frequently at higher risk. They can benefit from well-planned, affordable business insurance coverage like that offered by our independent agents. Contact us and let’s discuss your business and your needs. Let us help you better protect your hard-earned assets.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Read More Blogs
Underfoot Upgrade: Transforming Your Garage Floor from Forgotten to Fantastic
Don’t ignore your garage floor! Discover easy and impactful ways to upgrade this often-neglected area of your home.
Unwrapping the Wiener: A Deep Dive into the History and Lore of the Hot Dog
Beyond the bun: Discover the surprising history, varieties, and enduring appeal of America’s favorite tubular treat.
The Untapped Power of Collaboration: Why Asking for Help Fuels Business Success
Stop going it alone! Discover how leveraging the expertise of others can relieve pressure and drive your business forward.
Navigating the Grandparenting Journey: Understanding Today’s Families
Grandparenting today: Learn key shifts in family dynamics to build stronger connections with your children and grandchildren.
Mapping Our Paths: The Fascinating Reasons Behind Our Road Networks
The story behind the asphalt: Explore the geographical, historical, and planning influences that shaped our modern road systems.
Neighborly Navigations: Resolving Disputes in Non-HOA Communities
No HOA, no problem? Learn how to navigate neighborly disputes effectively in communities without formal management.
Vintage Years of Vision: Four Times Hollywood Hit Cinematic Gold
Like fine wines, certain years in film history stand out for their exceptional quality and the enduring impact of the movies they produced. This article explores four such landmark years, presented chronologically, that many cinephiles consider to be among the greatest in cinematic history.
Green Means Growth: How Environmental Responsibility Can Boost Your Business
It might seem like a secondary concern when facing immediate business challenges, but embracing environmentally friendly practices can actually be a powerful strategy for improving sales, attracting top talent, strengthening your brand, and even saving money. This article explores the tangible benefits of going green for your company’s bottom line and long-term success.
The Forgotten Beauty: Unearthing the Story of the Volkswagen Karmann Ghia
Beyond the iconic Beetle and the groovy Microbus, Volkswagen produced a surprisingly elegant and often overlooked sports car: the Karmann Ghia. This article explores the history, design, and enduring appeal of this “poor man’s sportscar” that has become a sought-after collectible.
Peace of Mind at Home: Building Your Essential Supply Stockpile
Recent global events have highlighted the importance of being prepared for the unexpected. This article outlines key non-perishable food items and essential household supplies that every homeowner should keep on hand to ensure comfort, security, and resilience during unforeseen circumstances.