Keeping your business running smooth means everything to you. You earn your livelihood from it and have making it successful your mission. So, what about small business insurance in Alberta? What are your options and how do you make sure you get the right coverage for the work you do?
Focusing on ways to increase your businesses revenue is important but so is planning for things to go wrong. The best way to keep your business safe is planning for growth and preparing for anything that could go wrong. Below we’re going to look at small business insurance in Alberta.
Four Types of Alberta Small Business Insurance Policies
Why you need Alberta small business insurance becomes clearer when you think about what your business needs, now and in the future. One of the first things that should come to mind is the people who keep your business running: you, your partners, shareholders and employees who keep the day-to-day flow of business.
It’s the people in your business who need what small business insurance in Alberta can offer the most. Let’s start with your employees. They need a job and a salary, but what do you need? Along with honest and hard work you need them to come to work daily and stay with your company so you don’t have to pay the added expense of hiring and training new employees.
1) Alberta Small Business Insurance – Group Health and Group Life Insurance
If you have employees, you should consider this small business insurance for a couple of reasons. The health of your staff is important because the healthier employees are, the less sick days they’ll take, and their productivity will remain high. Secondly health benefits are a good incentive to keep your employees around.
2) Alberta Small Business Insurance – Business Interruption Insurance
What would happen if the building where you run your business from had a fire? Would your business be able to continue generating income? What about when its being repaired? This small business insurance policy will make it possible for you collect income while your business is compromised by an unexpected event.
3) Alberta Small Business Insurance – Key Person Insurance
Every business has a key person – the one the company relies on to generate income.
If they were disabled or passed away in an accident, your business might not survive. This insurance product protects the financial loss of not having the key person brining profit into the business. If pays out financial support to help the business recover and find a replacement if necessary.
4) Alberta Small Business Insurance – Buy/Sell Insurance
You might have a business partner, what would happen to the business if one of you passed away or was injured. This can also affect shareholders and investors. A buy/sell agreement will put a plan in place, so business goes on as usual.
If you need more information about small business insurance in Alberta, you can speak with an insurance broker. The consultation is free and can help you decide what the right coverage is for your business.