Should I prioritize insurance for my business in this crisis?
Many are the small companies that have benefited from the programs created by the federal government, in the heat of the law known as CARE Act enacted with the aim of alleviating the economic damage caused by the coronavirus.
Among the aforementioned programs, the Economic Damage Disaster Loan, EIDL, for its acronym in English, stands out, which grants businesses financial assistance, in the form of a loan, intended to cover operating and working capital expenses such as service payments. public, debt, rent, etc.
It is key that businesses, when assuming their obligations, do not overlook commercial insurance payments that, in addition to physically protecting the business, insure them against possible lawsuits from workers and customers. To do this, insurers have created packages that contain the main coverages that businesses need: property insurance, liability insurance, and employee insurance.
Can you imagine, in the middle of this crisis, having to face a demand from a client?
What would you do if your business is affected by one of these hurricane season’s storms without having insurance to back it up?
Don’t play with fire, set aside a portion of your funds to keep your commercial insurance current. Remember that it is the only investment that ensures all the capital invested in the business.
If you have any questions, check with Univista Insurance. Your insurance specialists will listen to you carefully, review your policy, and advise you on the best of the possible alternatives.