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Retail insurance basics

Protect your business investment with coverage in these key areas
By Eliana Osborn
Published: August 14, 2015
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Owning a business is an act of calculated risk. To make the most of your investment, proper insurance coverage is absolutely necessary.

There are significant differences between the insurance you need in your personal life and what is required in your role as business operator. Consider all of the policies you hold: life, auto, health and home. Each aspect of your business needs to be insured, as do the different segments of your life. Neglecting one kind of coverage—to save money or because you didn't know you need it—can be a costly mistake.

And any time your business changes, you need to meet with your insurance agent to review coverage. More employees? You may need more workers' compensation. Increased sales? That changes some of your policy limits. Keeping current with your insurance means having the right policies to take care of your business no matter what the circumstance.
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