Did you remember insurance?

Insurance is one of those things my clients always don’t figure into their fixed monthly costs. There are 2 types of insurance that you absolutely have to have for your business.

The first is liability insurance and it can save your butt. It’s pretty straight forward. If someone gets hurt on your property, you are liable. Shift that liability to your insurance company and be done with it. Most policies will run you around $50 a month depending on your size of business and what services you offer. Make sure you ask your agent if it covers your type of business. I know some construction type businesses or medical business insurance can run pretty high there.

The second type of insurance is for loss from fire, theft, or vandalism. This is good if your business is in a high risk area or has high dollar equipment. My wife’s tanning salon is open 24 hours, so her insurance is very important for those late night, up to no good type.

There are also other types like Error & Omission, Architects & Engineers, and Accountant insurance. Ask your agent about the type that you need. I’m just here to remind you.