Small businesses encounter numerous risks and are better off insured than not. Here are our top reasons why insurance is essential for small businesses.
LIABILITY MATTERS
Obtaining liability insurance for your business is a wise decision. Liability claims often run into millions of rands. Your business will still recover from the cost of losing a cellular phone, but an uninsured event that leads to a large liability claim will destroy your business. To add to the risk, directors and owners of businesses can be held personally responsible for such events. You might not only suffer a financial loss in the business but a financial loss in your personal capacity as well.
The different types of Liability Insurance can you protect you from such risks.
NATURAL DISASTER, VANDALISM, OR THEFT
If your business is uninsured and a natural disaster strikes, it could be physically devastating to your small business without the means to pay for restorations or replacements. This type of insurance is essential for all businesses, but particularly for small businesses that might not possess the financial resources to completely replace their assets if they are abruptly destroyed.
FINANCIAL SECURITY
Smaller businesses are less likely to have large amounts of capital reserves saved up for the purpose of absorbing financial losses. Whether these losses come from events that can be insured against or not, the nett effect is disastrous for the business.
Where it is possible to take out insurance to reduce the effects of these events, it just makes financial sense to do so. Your business is after all your baby and needs to be protected.
Insurance helps you to do this.
Now that you comprehend the significance of insurance, you may be motivated to insure your small business. Get in touch with us today. We will assist you in assessing your small business risks.
Your risks are unique! Your insurance should be to.
We believe that the risks faced by each business and each individual is unique. We believe in providing each business, each of our clients with a comprehensive insurance solution that addresses their own unique and individual risks. A solution that will fit into your budget and not break the bank.
011 760 2124 │ admin@ngenious.co.za │ www.ngenious.online
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