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Long Island City, NY 11101
(646) 693-0120http://www.gmilife.com/our-services/business-insurance/
Mon - Fri 9 a.m - 6 p.m
Cash, all cc
Business insurance is essential in order to operateeffectively. There are a variety of different types of business insurance thateach business owner should have in order to be able to reasonably anticipatethat operations will not be adversely impacted if something should go wrong.These are property insurance, liability insurance and Workers Compensation.
There are a variety of reasons thatbusiness owners should protect themselves by having all three types of businessinsurance. The importance cannot be understated. While it is essential in orderto ensure financial well-being in any case, it is even more important if thebusiness owner is leasing or renting a building. This is because operating abusiness from property that is not owned by the business owner often opens upthe potential for added liability and therefore increases the financial risk onthe part of the business owner.
Property insurance is an essentialportion of business insurance in order to protect not only the physicalproperty, but also the contents that exist within that property. Withoutadequate property insurance business owners run the risk of losing everythingthey have worked for. This could be for a variety of reasons, ranging fromproperty loss due to storm damage to a building fire. Either way, experiencingdamage to property and contents due to any type of loss is unacceptable. Inmany cases property damage causes a business owner to experience extremefinancial hardship and may result in the business closing its doors forever.Such outcomes can be avoided simply by having adequate amounts of propertyinsurance.
Liabilityinsurance is also a major component of properly ensuring a business. It isessential because liability insurance covers damages to third parties, such asvendors or consumers. Basically, liability insurance covers the business ownerany time that an individual enters the premises and suffers an injury.Otherwise, profits can be adversely affected.