By an insurance dummy

What is Insurance anyway?

It is a system in which you pay someone else (usually an insurance company) to protect you from the monetary consequences of risks that you might encounter.

Most simply, you transfer your risk to them for a fee.

There are several types of insurance that you may need for your new business: Part I will deal with physical items.

For example, you may own “stuff”, such as a building, equipment or inventory that you don’t want to or can’t afford to replace if you lose it.

Usually insurance for those items will provide protection from loss by a fire or wind or theft and lots of other things too. That is called Property Insurance and is usually available from a wide variety of companies.

As always, consult with an insurance professional such as an agency that specializes in business insurance.

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