Are you considering on starting a business and worried about the costs of insurance? You should as the number one cause for business failure is lack of cash flow and/or capital. The initial down payments for annual insurance policies are high and the premiums even higher, but in this day and age of lawsuits, you better be protected just in case.
In fact many companies will require that you have business commercial insurance just to enter their property. Commercial Insurance considerations are key in the Mobile Service Business Sector and you will need to provide additional insurance certificates or certificates of insurance nearly everywhere you go. Corporations and their risk management departments will require them.
Insurance is not cheap and is a significant cost and has increased since 1992 every single year. It is a killer for small business. But until we Shoot All the Lawyers, as some shoot from the hip entrepreneurs will belligerently call out, you have to deal with it and pass this onto the consumers, everyone does, except the Hispanic Illegal Aliens that you compete with “no business license, insurance, identification” and that is the way the real world works?
You need a good insurance policy and you must protect your company and your personal assets.
By Daniel Ralphs