Almost all Springfield businesses must invest in assets to operate a business. To keep your business running, you need to protect your assets from damage or theft. Proper small business insurance coverage can help you stay in business and serve customers. 

Assume that, for instance, you own a sporting goods manufacturing business in Springfield. Your business includes a plant, warehouse, and a fleet of delivery trucks. Many businesses consider these types of small business insurance coverage:

Protecting Assets Using Small Business Insurance in Springfield

1. Property Coverage for Small Business Insurance 

Here’s the right mindset: everything you use to make money in your business is an asset. As a business owner, you need to insure all of your assets. So, that means that you need to insure the plant and warehouse buildings.

You also need insurance coverage for everything inside these buildings. That includes machinery, equipment, and all of your technology. If you make leather baseball gloves, you need to insure the stacks of leather that will be used for the gloves (raw materials). You also need to insure the finished goods -- the completed baseball gloves and running shoes that are sitting on the factory floor.

Property insurance can protect your assets against theft. These policies can also cover damage due to fire, water damage, or smoke damage.

2. Commercial Vehicle Insurance 

If you think about it, the typical commercial truck that you see on the road requires a big cash investment. Consider the company delivery truck that’s full of running shoes.

As the business owner, you need to insure both the value of the truck and insure the contents. A business that has delivery trucks out on road may have thousands of dollars in goods in transit at any one time. You need insurance in case your delivery driver is in an accident and the goods are damaged.

You also need coverage for the other driver’s vehicle, and for the risk of injury. Your policy should cover any injuries to your driver, as well as other drivers involved in an accident caused by your employee.

3. Business Interruption Insurance 

Even if you have property insurance in place, it will take time for your business to recover from a natural disaster or some other event of the sort. Business interruption insurance covers the income a business loses when a company can’t operate right after a disaster. This policy can help pay for your operating costs when you’re not able to generate an income. Many customers in Springfield consider this type of coverage.

Speak with an insurance agent about these types of coverage. These small business insurance policies can help you protect your assets and keep your Springfield business operating.