As small and medium-sized business owners, it is often good to hope for the best and prepare for the worst. No company head wants to shut down because of flooding damage, or have a month-long break as repairs are done to fix debasements from vandalism.
So, why then would an owner not invest in comprehensive property insurance? Without the right policy, or combination of policies, the recent optimism being seen by business owners could once again fall flat. A report showed that small business owners still have steady hiring plans in place, even as the economy works its way back to full strength.
According to a survey conducted by The Wall Street Journal and Vistage International, a San Diego-based executive-mentoring group, 40 percent of business owners said they plan to invest in new property and equipment. While this is the same level as reported in March, it is still the highest since June.
Furthermore, almost all surveyed companies reported that they anticipated higher or steadier revenue this year, with 80 percent expecting to be profitable.
Let's pretend that you are one of these optimistic business owners, and that you have even invested in either new property or equipment for expansion. What happens if severe weather blows through your area, and your new storefront suffers damages? Or, what if you are transporting items from one location to another and get into a car accident? Regular auto insurance will likely not cover your company the same way that commercial auto insurance would.
This is where commercial insurance specialists come into the picture. These professionals can help small to medium-sized business owners find the best policies for even the most niche of companies. That way, as optimism grows and companies continue to expand, entrepreneurs can rest assured that their organizations are protected.