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Most business owners have an insurance policy that safeguards them if he or she lose their own business house. Fire as well as theft insurance could well be two method of doing this specific. Business owners could also want to guard their supply and their own equipment.
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Business insurance!
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It depends on if you are a small business company or a multi national company however most businesses have commercial liability insurance policies, and some companies maintain fidelity insurance. Both types of insurance policies protect against losses caused by the company or its employees in addition to protection against third-party lawsuits. Also, some businesses have business interruption insurance, which covers risks to the normal business operation.
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Insurance policies do not protect against loss of personal property or finances if the business gets in trouble. Creating an LLC, INC or similar is what keeps the companies assets away from the personal assets of the company owners and any and all share holders. If your company is not founded properly or in the right class you can easily loose your house, all your savings and much more, even with insurance.
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Hi chod sorry I am not very into Insurance policies or business so can you tell me please, what LLC, INC means?
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LLC= Limited Liability Company
INC = Incorporation
Insurance and setting up a business are two different things, at least in America they are very different beasts.
INC = Incorporation
Insurance and setting up a business are two different things, at least in America they are very different beasts.
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It is very important to get your business insured before any mishap happens. You may think that it's a negative thinking, buying an insurance policy because you are uncertain about the long running of your business. You must be prepared in advance for the worse.
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(08-12-2013 12:10 PM)William Martin Wrote: It is very important to get your business insured before any mishap happens. You may think that it's a negative thinking, buying an insurance policy because you are uncertain about the long running of your business. You must be prepared in advance for the worse.Yes that is very true, but still your first step is making the business legal, then getting insurance for it. Just trying to insure what you call a business is not enough even for insurance companies to setup a policy for you.
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