Business insurance protects businesses from any financial loss or damage that occurred during the everyday operations of a company. A policyholder gets the coverage for risks related to employees, damage to property as well as legal liabilities. Such incidents can cause a major setback to your business. In several cases, it leads to partial or complete closure of the business leading to loss of income.
It is vital for the owners of small enterprises to carefully take into consideration and assess the needs of their business as they have extensive financial exposure in case of any loss. If the owner of the business does not feel that they have the ability to assess business risk effectively and the need for insurance coverage, they must work with an experienced, licensed, and reputable insurance agent. Business insurance protects the SMEs from fire, theft, professional liability, general third party liability, compensation towards workers, medical expenses etc.
Though having your business insured is not mandatory in India but it is necessary. Business insurance India comes with certain features that make the policy worth your money:
The benefits of Company Insurance plans are as follows: