From the course: Finance Foundations for Solopreneurs
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What about business insurance?
From the course: Finance Foundations for Solopreneurs
What about business insurance?
- Insurance is that resource that allows a business to exist. Whether you own a company or are working a side hustle, operating without insurance is the biggest danger you will face. Think about insurance this way. It's the means of financing your business risk. In other words, it pays for bad things that happen when you can't afford to. There are five common types of business insurance you should consider. Each business and industry will be different, so find a good insurance broker to help you create your own program. Let's start with property and general liability insurance. Generally, this is a package to protect any business property you have in your home and the liability you assume for your own mistakes. What property should you insure? Consider anything owned by your business. This includes computers, furniture, inventory, and office equipment. But then you also need to consider liability. Depending on your business, it's critical to protect you from negligence and accidents…
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