Virtual Office Insurance: Five Reasons Why You Should Have Small Business Insurance

Whether you're into the swing of your virtual office business or you're just starting out, you might have forgotten about the need for insurance since a virtual office doesn't seem like a real office. Though virtual offices can certainly offer conveniences that a standard office might not afford, it's still important to make sure you're covered in the event that something goes wrong. Here are five reasons why you should keep yourself insured as a small business owner:

It Protects in Case of Property Damage

Every penny counts when it comes to small business, so you'll want to make sure that any property you've acquired is protected in the event of fire, theft or vandalism. Though you may have only accrued a computer and a phone at this point, it's important that these devices are protected so your business isn't interrupted as a result of an equipment issue.

It Provides Coverage in the Event of an Injury

In the event that one of your employees is injured on the job, Worker's Compensation Insurance will take on the responsibility of paying your employee's wage and covering many of their medical expenses. Since this means that an employee is unable to sue you for an on-the-job incident, having insurance means that you won't have to get involved in the rather hairy, and expensive, land of the legal if such an incident does occur.

It's a Defense Against Flaws in Professional Service

While Professional Liability Insurance is used mainly for companies that provide professional services, like lawyers, accountants and insurance agents, this type of coverage can be important in the event that a client experiences negligence as a result of a service provided. It's not a necessity for every small business, but if you offer professional services it may be very important coverage to have.

It Protects You Against Data Loss

If you're a small business owner, there's a good chance that you store some personal data about your clients in your company's system. Whether the private information happens to be on the computer or in the books, Data Breach Insurance will insure you and your business in the event that company information happens to be lost or compromised.

It Provides Coverage for Business Interruption due to Personal Illness or Injury

As a virtual business can consist of as little as one employee and a business owner, having insurance that will guard against illness or another unexpected event can be very important so you can avoid the problematic hurdle of having your business interrupted. Even a minor issue as a small business owner can have a huge impact on your bottom line, so this type of insurance can provide necessary protection against this occurrence. While the small business owner has more than enough to worry about without even starting to think about insurance, it's one of the most important things to keep in mind if you see growth in the future. It might seem like a waste of time to bank on what might happen, but in the event that something does, not having insurance can have a very negative impact on the success of your business. If you're a business owner who is contemplating a virtual office, Contact us for more information on what we have available.