When it comes to running a successful business, it’s important to protect yourself and your employees against the unexpected. Having an insurance plan is beneficial when a natural disaster hits or when there’s a lawsuit against your company. Below are a few reasons why it’s important to have policies in place.

Why Your Company Needs Insurance

1. Required by Law

If a business has employees, certain state and federal regulations require insurance. Disability, workers’ compensation, and unemployment are in place to protect the business owner and employees, so check with a local insurance agency that will understand your state and federal obligations.

2. Disasters Can Strike

No one can predict a hurricane, fire, or flood—known as “Acts of God” for insurance purposes. If a natural disaster damages your property or injures an employee, a risk policy will cover that. Additionally, if an Act of God causes the business to lose money because it had to be closed, business owner’s insurance can help.

3. The Unexpected Will Happen

When the unexpected occurs, the right coverage will keep your business running. No one wants a lawsuit or injury to happen, but it’s likely that they will at some point. Stay prepared by working with an insurance agency to customize the right plan for the business’s needs.

4. It Will Help Your Employees

To retain employees, offering a comprehensive benefits package can be beneficial. Having life and health insurance encourages many people to stay long-term with the company.

5. You’ll Have Peace of Mind

Instead of worrying about a former employee suing the company or a flood putting you out of business for a month, coverage will give you peace of mind. You can focus on running a successful business and let your insurance agency help if anything ever happens.

For all of your insurance needs in the Garfield, NJ, area, visit the experienced and compassionate team at Imperial Agency. For nearly 40 years, they have helped individuals and companies organize their policies. Whether you’re in the market for health insurance for employees or need a trusted insurance agency to help with tax preparation, the team is happy to customize a plan for you. To learn more about their services, visit them online or call (973) 546-9567 to set up a consultation today.