Protect Employees

• One of the most basic reasons to buy insurance is to help protect your employees. Buying worker's compensation insurance is essential, unless your business is in Texas. Every other state requires most employers to buy worker's compensation. This kind of insurance ensures that you will not be sued by your employees if they are injured while on the job. If an employee is injured, worker's compensation insurance will help pay for medical expenses as well as any lost wages.
  
  

Protect Your Property

• To conduct business, you most likely have to buy or rent a business location. If this location were to be damaged in some way, it could be devastating to your business. By purchasing property insurance, you can get the building repaired or replaced if it is damaged. You can even get insurance that ties in with this type of coverage to provide benefits if you sustain business stoppage. For instance, if your property burns down, you can get reimbursed for the business that you would miss out on while it is being rebuilt.
  
  

Avoid Liability

• People file lawsuits for many different things. When you are trying to conduct business, a lawsuit could potentially ruin your business and cost you a great deal of money. By purchasing liability coverage, you protect yourself against lawsuits from outside sources. For instance, if someone is walking in your store and something falls on him, he could be significantly injured. In this case, your liability insurance would pay for any legal costs that you might have including any settlements.
  
  

Protect Other Property

• Another benefit that you can gain by purchasing commercial insurance is the protection of other business property. For instance, you can get insurance that will cover your business vehicles in case they are damaged or stolen. Your insurance can also cover any equipment that you might have in your store. If any of it is destroyed or taken, your insurance company will pay to replace it. When you have a large amount of money tied up in business property, this insurance makes sense.