These Times May Be Turbulent, but That’s Why Your Business Needs the Right Coverage

Your business needs to be prepared for the future in a lot of ways, and one of them is through insurance. Between the pandemic and political polarization, small businesses have been hit pretty hard in multiple directions. How can you better prepare for the uncertain future ahead? First, it’s better to ask: Do you have enough insurance coverage? Your business needs to be prepared for the future in a lot of ways, and one of them is through insurance. Between the pandemic and political polarization, small businesses have been hit pretty hard in multiple directions. How can you better prepare for the uncertain future ahead? First, it’s better to ask: Do you have enough insurance coverage?

A report by Next Insurance revealed that 44% of small-business owners applying for coverage never had any kind of business insurance before, despite being in operation for a year or more. And while 25% of Americans owned a side business in 2018, only 12% of them insured their businesses. Most are uninsured.

Now more than ever, businesses need to ensure they have workers’ compensation and unemployment insurance as well as disability insurance and other insurances required by your state.

But meeting legal requirements is only one part of protecting your business. Consider these common insurances that can prevent you from going under in unexpected situations: 

• Property insurance
• Business interruptions/loss of income insurance
• Crime/theft insurance
• Business inventory/stock insurance

Any of these can help you overcome unexpected losses in your business — and, for AFEUSA members, it’s even easier to find the best rates for the coverage you need. Answer Financial specializes in programs that offer AFEUSA members comprehensive, superior insurance plans by top-rated, national insurance carriers for small business, auto, and home. Hundreds of entrepreneurs thrive from our benefits and discounts, and you can, too!