Getting your business up and running is exciting, challenging and hard work. You’re finally making money and you are the driving force that is making your business grow. But have you taken care of the “What ifs”. Like “What if I get sick, how do I pay my bills” or “What if I have a fire, how do I keep my business running”. Simply put, the one thing you do not want is to have the business that you have labored so tirelessly on, hit a financial snag. If you are a sole proprietor or a partnership both your business and personal liabilities are at risk.

LLC? Many are misled into believing this is so, however, you too can become personally liable if you sign a personal guarantee on a loan, personally injure someone or act irresponsibility. As you will see, owning business liability insurance can and does protects your business and personal life from financia ruin. My discussion here will be limited to Business Interruption,Overhead, Umbrella Liability and Liability Insurance explaining what these four types of insurance are, and what they can offer you and your business.

Interruption Insurance Business Interruption Insurance helps to insure against any economic losses that you may encounter if something should happen to close down your business. For example, you have a fire in your corner of the house your business office. Your home is covered for property damage thus, the rebuilding is covered, however, what about the lose income you’re losing while you rebuild? That’s where Business Interruption Insurance can come in to play.

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