Call Us (561) 994-0880 ☰ ˟
(561) 994-0880 info@parkassociates.com
Park & Associates
Client Portal  Request a Quote
  • HOME
  • ABOUT US
    • About Us
    • Employee Directory
    • Location Map
    • Privacy Policy
    • Testimonials
    • Giving BackImage of right arrow
      • Mission Trip to Haiti
  • CUSTOMER SERVICE
    • Client Portal
    • File a Claim
    • Request Declaration and Coverages
    • Request ID Card for Auto Policy
    • Request Proof of Insurance
  • MAKE A PAYMENT
  • RESOURCES
    • View our Blog
    • Insurance Glossary
    • Newsletter Archive
    • Refer a Friend
    • Request A Quote
    • Proof Of Insurance
  • CONTACT
    • Contact Us
    • Join Our Newsletter
    • Join Our TeamImage of right arrow
      • Join Our Team
Association Insurance Icon Business Insurance Commercial Real Estate Insurance Icon Association Insurance
Preschool Insurance Icon Preschool Insurance
Contractor Insurance Icon Contractor Insurance
Homeowners & Car Insurance Icon Automobile Insurance Flood & Umbrella Insurance Icon Homeowners Insurance 
Home > Blog > Few Sole Proprietors Have Proper Insurance
FRIDAY, APRIL 6, 2018

Few Sole Proprietors Have Proper Insurance

Small Business Owner

As a sole proprietor, you work very hard to build and maintain your business. It goes without saying you want to protect it.

Yet, you may not have enough business insurance. A survey from McKinsey & Co. looked at the rates of coverage in 2016. It found that about 40 percent of small business owners do not have enough insurance.

This is a significant amount. And it should serve as a catalyst for you to shore up your business coverage.

Know The Risks

You may be a consultant, freelancer, or service provider working alone. You may have a physical location or not. However, if you receive payment for a service you provide, you are a business owner.

Sole proprietors often operate small companies. As a sole proprietor, you need to make sure you have adequate amounts of business insurance in place. Without coverage, your business could suffer financially from any incident that takes place.

Here are some examples of damaging situations:

  • A piece of important equipment breaks down. You may not have the funds to repair it. Your business cannot run as a result.
  • Someone falls on your property. They might even sue you for medical bills. This creates a liability risk. Your standard coverage may not offer enough protection to minimize all risks.
  • You have insurance, but lack workers compensation coverage. This puts your employees at risk. You might even be breaking the law by not providing this coverage.
  • Someone suffers losses from a service you provide. They sue you. They could lay claim to your personal assets if you do not have adequate business insurance to minimize your risk.
  • Your business faces a claim of libel or slander. Maybe your logo looks too much like another company's. These are instances in which advertising liability insurance can help.

How Do You Know If You Have Enough?

It's important to have adequate business insurance in place. Work with your agent. Discuss the type of business you operate. Talk about the assets your business owns. Discuss the revenue you generate.

Then, discuss risks. These include premise liability and other general liability claims. They also include risks related to the products and services you offer. Risks related to fires, vandalism, and theft are a key concern, as well.

Your Park & Associates agent should work with you to customize your plan. It should represent all risks your company faces. If you do not have coverage, now is the time to seek it out. It can help to protect your company or years to come. And it can give you the peace of mind you need every time.

What are you waiting for? Get covered today!

Posted 11:00 AM

Tags: business insurance, sole proprietor, coverage, protection, insurance, park associates, park and associates
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017

  • park and associates(28)
  • coverage(14)
  • business insurance(12)
  • insurance(11)
  • home insurance(9)
  • protection(7)
  • auto insurance(5)
  • car insurance(5)
  • commercial property insurance(3)
  • community association(2)
  • epli(2)
  • park & associates(2)
  • cyber liability insurance(2)
  • workers compensation insurance(2)
  • condo association insurance(2)
  • building ordinance & law coverage insurance association(2)
  • general liability insurance(2)
  • renters insurance(2)
  • homeowners association insurance responsibilities(2)
  • 2020 covid-19 insurance high premium cyber attacks and insurance(1)
  • insurance rates high; florida; homeowners rates(1)
  • how to calculate business income property insurance(1)
  • hurricane tips florida storm(1)
  • workers compensation(1)
  • property owners insurance coverage needed building ordinance or law(1)
  • personally identifiable information(1)
  • environmental impairment liability insurance pollution(1)
  • employeer liability(1)
  • valentines day(1)
  • texting(1)
  • reading(1)
  • crime coverage(1)
  • financial(1)
  • how insurance companies determine your premium for your home property(1)
  • holiday season hazards fire cooking christmas lights(1)
  • business income property insurance(1)
  • sole proprietor(1)
  • employee accident(1)
  • jewelry(1)
  • commercial auto insurance(1)
  • extortion ransomware association cyber liability insurance(1)
  • swimming pool(1)
  • insurance disclosure information risk exposures(1)
  • bop(1)
  • risks(1)
  • kitchen home fire and insurance coverage(1)
  • small business(1)
  • ho3 and h06 insurance coverage difference(1)
  • cyber insurance(1)
  • cyber attacks insurance(1)

View Mobile Version
Park & Associates
Quick Links
Home Our Products Customer Service Make A Payment Report a Claim
About Us Refer A Friend Our Carriers Blog Contact Us
Location
5255 N Federal Hwy.
Suite 200
Boca Raton, Fl 33487

Phone: (561) 994-0880
Fax: (561) 994-1740
Email Us

TrustedChoice
Facebook Twitter
Licensed In The Following States: Florida
Please Read Our Privacy Policy
Copyright © 2009-2019 Park & Associates, Inc.
All Rights Reserved.


Powered by Insurance Website Builder