Owning and operating a profitable, successful business is no easy feat. With so much on your mind every day, knowing you have a foolproof business insurance plan can give you greater peace of mind. Here’s why:

The Top 10 Reasons Why Business Insurance Gives You Peace of Mind [infographic]

  1. It’s the law—The law in North Carolina requires businesses with employees to maintain certain types of coverage, like unemployment, disability, and workers’ compensation. Failure to do so can result in fines and other penalties.
  2. Minimize liability—In the event of a liability claim or lawsuit, your business could face severe consequences without insurance. On the other hand, the right policy protects your business in the event of litigation.
  3. Maintain your operations—What would happen if a natural disaster, like a flood, hit your business’ location? Depending on your portfolio of policies, insurance can kick in and cover your loss of income during the recovery period.
  4. Enhance your credibility—Having the right insurance policies shows your clients that working with you is a safe bet, which can increase your business and reputation.
  5. Protect your employees—Your business’ most valuable asset isn’t an expensive piece of equipment or your inventory – it’s your employees.
  6. Guard key people—What happens if one of your key employees has a heart attack, is in a serious accident, or can’t work due to an unforeseen circumstance? Key person insurance can cover the death or disability of a highly valued employee.
  7. Retain and attract employees—Not only can insurance protect your operations from “doom and gloom” scenarios, but it can also help you attract qualified employees.
  8. Meet contract requirements—Certain property or client contracts may require that you carry insurance just in case things don’t go as planned.
  9. Help you plan for the future—You don’t know what will happen next year or even tomorrow. For this reason alone, it’s best to make sure your business is properly insured.
  10. Save money—Faced with a lawsuit or property damage, your business could struggle to keep up with the expense. With insurance, your business doesn’t have to worry about going bankrupt due to a legal situation or a natural disaster.