5 Reason Why You Should Have Business Insurance

Do you have business insurance? No? Well, it is time to get it! Here at Caliber 360, Inc., our team of experts is here to provide you with five great reasons why you should take advantage of business insurance today! When it comes to exactly what your business needs, our insurance agent Miami professional is here to serve. We also offer the best accountant in Miami.


Get Your Business Insurance 

Businesses need business insurance because it helps cover the costs associated with property damage and liability claims. Without business insurance, business owners may have to pay out-of-pocket for costly damages and legal claims against their company. Depending on the incident, this could be a financially devastating scenario for business owners. In some states, businesses are required to have specific types of business insurance.


5 Reasons from an Insurance Agent Miami Professional

  • It’s the Law
    • The law requires businesses with employees to provide particular types of insurance: workers’ compensation, unemployment, and disability depending on the state where the business is located. Failure to carry legally required coverage could result in fines, civil or criminal penalties, exclusion from public contracts and “cease and desist” orders — all of which could cost you far more than the price of an insurance policy.
  • You Could Get Sued
    • We live in a litigious society. In the event of a lawsuit or liability claim, without insurance, your business could fold. One accident. One broken contract. One disgruntled employee, and it’s over. Even if you win the suit, you could go out of business due to the cost of legal defense. Rather than worry about what could happen, liability insurance can give you peace of mind, enabling you to concentrate on what truly matters — running a successful business.
  • Keeps Your Business Up and Running
    • What happens to your business in the event of a natural disaster, such as a hurricane or flood? P&C insurance covers loss of property — buildings, equipment, etc. — but what about the money you lose during the time your business is closed? That’s where Business Owners Insurance (otherwise known as BOP) plays a critical role. It can help a business survive a serious disaster by protecting against loss of income.
    • The way it works is that the insurer pays you the income your company would have made while it was out of action. BOP also compensates for normal operating expenses that you would have otherwise incurred during that time.
  • Makes You Look Credible
    • Having insurance makes your business look credible. Business insurance shows your prospective clients and customers that you’re a safe bet. If anything goes wrong with the work you do for them, you have a way to compensate. That’s the reason home services companies carry the statement “licensed, bonded and insured” on their trucks and signage. It builds trust, the currency of a modern-day economy.
  • Protects Your Employees
    • Your most valuable asset is not the products or services you offer, the equipment you take so much care to maintain or even the brand you struggled for years to build. No, your most valuable asset is your employees, and it pays to protect them in the event of an accident. The law requires that you carry workers’ comp, but you should also consider offering disability coverage, even if you have to charge your employees for a portion of the cost.


Call The Best Accountant in Miami

Get your business insurance today! It is very important and our insurance agent Miami professional can help you! Also, to take advantage of tax preparation services. That is where the professionals at Caliber 360, Inc. come in. We offer the best insurance in Miami. Call one of the best insurance companies near me today for more information on how we can help you. Be one of the many who are taking advantage of the best accountant in Miami.