We are surrounded by small businesses in Melbourne, Palm Bay, Sebastian, Stuart, Vero Beach, FL, and the surrounding areas, from the local bakery to the florist, painter, attorney, and more. All of these are small businesses, and they all are in need of insurance for small businesses. Our team at Ostrom Group, LLC can help any small business determine that kinds of coverage that will work best for them and provide the right coverages needed. The industry that the business is in, the number of employees, what property the business owns, and more all play a role in determining the right small business insurance policies are appropriate for each business. Because we work for our clients and not the insurance companies, we provide trustworthy information that is for the benefit of our clients. Contact us today to review your small business insurance needs.
Why Does a Small Business Need Insurance
Many business owners wonder why their small business needs insurance, especially if it is just the business owner that is running everything. For example, and accountant running an office themselves should have professional liability insurance as they are giving advice in a professional capacity, and if someone uses that advice but gets harmed financially or otherwise, they may take that accountant to court over that professional advice. Your professional liability insurance is there to help cover those legal costs.
But there are other small business policies that might be important to have, depending on the kind of business being run. Business income insurance, for example, might be worthwhile to have if your property is damaged to the point where you can’t use it run your business. Commercial auto insurance is another small business insurance that many small businesses need.
Just One Incident Can End a Business
The simple truth is that just a single incident, such as a vehicle accident or someone getting injured leaving your property, could cost a business enough that it needs to close. As your source of income, it is important to protect your business with the right insurance policies. Insurance for small businesses provide the financial protection to recover from an incident or to cover costs that would otherwise bankrupt the business.
While some small business insurance is required in Melbourne, Palm Bay, Sebastian, Stuart, Vero Beach, FL, and the surrounding areas, there are many more insurance options that aren’t required but are a very good idea to protect the small business. Work with Ostrom Group, LLC and benefit from our 40+ years in business where we can explain the different small business insurance options so you know what best fits with your needs. Contact us today to review your small business insurance needs.