Don't let insurance be a roadblock to your startup business

Startup companies have many things to consider when they open their doors for the first time. However, facing a hurricane is often not at the forefront of business owners' minds. Hurricane Sandy caused many damages along the East Coast, and some companies are still feeling the effects.

Such is the case with Jessica Isaacs, who was weeks away from opening Cocoa Bakery in New Jersey when the superstorm hit. She told the Wall Street Journal that so far, she has spent about $15,000 on renovations to her 900-square-foot space, and the work is still continuing.

Isaacs applied for a few low-interest loans for small businesses, but was turned down because her company had not been open for at least one year.

"Her three part-time employees have stood by her side, helping with bookkeeping, ordering inventory and running a rented kiosk at a local mall in December and January - without pay," the article explained. "And her landlord hasn't charged her for rent on the store, she says, adding that 'there are a lot of vacancies on the property.'"

While Isaacs added that she expects to be open by the end of May, she predicts her revenue to be just $300,000 -  down 40 percent from the $500,000 she had expected if the store had opened in November.

In addition to the important tasks that come with opening one's own business, it is essential to have the right commercial property insurance in place. Even if an owner is unsure of what is needed, there are policy experts who can assist in finding everything from the right business owners insurance to general liability.




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