(NC)—There is nothing worse for a small to mid-sized business than to have to consider closing up shop for any amount of time. Delays in getting your business up and running after a major loss can cost you time and money. However, insurance is often the first thing that small business owners let slide when money is tight, according to a survey commissioned by RSA, one of Canada's leading business insurers.
A paper published by The Monieson Centre (Queen's School of Business) found that insurance is taken only once the business owner can afford it. The paper called Entrepreneurs, Insurance and Business Growth also revealed that even for established businesses, insurance is one of the first things reviewed when looking to cut costs. Unfortunately that is the time when most small businesses simply can't afford to be without insurance to help absorb potential losses.
Insurance is seen as an important investment for protecting your business, and there are some simple things you can do to guard against some of the most common risks. From the RSA Group, here are some of the most common claims small businesses face:
It's important as a small business owner to talk to your insurance broker about how to tailor insurance to ensure the right coverages are in place to protect your business from losses and from the diminished revenue that can result from a claim.
Talk to your broker for details and more information is also available online at http://www.rsagroup.ca.
The Insurance Advisors @ Guthrie Insurance Brokers Ltd
Toronto – (416) 487-5200 – 1-888-310-SAVE (7283)
E & OE