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Business insurance requirements?

Question asked by Declan - Mar 5, 2014
Question

I plan to open a small wholesaling business this summer. What sort of insurance cover will I need?

response from John Englund
- Mar 5, 2014

If you have employees you will be required to carry employers' liability insurance, which protects you against potential accident or injury claims made by your employees. Business liability insurance may also be wise; it will protect you from personal injury or property damage claims derived from accidents related to your business or the products you make or sell. You should really check with professional comprehensive insurance providers and compare their offers to get a better sense of what your particular situation calls for. Other types of coverage that might apply to a wholesaling business are “goods in transit” and “business contents” insurance. In fact the only sure way to know what types of insurance you should (or must) have for your business is to ask for quotes from business insurance providers. 

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