Question I’m just starting out in business and don’t know whether I’ll be successful. My company doesn’t even own any hard assets yet. Do I need business insurance at this early stage?
Mickey Manley II is a Farmers Insurance® agent in Omaha, Nebraska. He talks about the importance of business insurance.
Answer From the moment you go into business, you’re exposed to risk. You might not have any property to protect yet, but your liability exposure starts immediately.
New business owners often tell me they plan to get insurance once their business grows or has assets. I would consider budgeting for insurance from the get-go. You can get a basic policy now and beef up the coverage as you grow.
I know how important it is to keep costs low when you’re just starting out, but business insurance should be an important part of your financial planning. For example, a lawsuit could result in serious financial losses — and can even be financially devastating.
Talk to an agent about a business insurance policy today.
Includes personal service from a Farmers agent.
The information contained in this page is provided for general informational purposes only. The information is provided by Farmers® and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to this article or the information, products, services or related graphics, if any, contained in this article for any purpose. The information is not meant as professional or expert advice, and any reliance you place on such information is therefore strictly at your own risk.