15th Sep 2008
What insurance does your new practice need?
Sure, you know you need malpractice, but what else? Many businesses neglect getting these insurances until it’s too late:
- Business interruption insurance, to help pay your bills and provide temporary facilities if your business is destroyed because of a disaster, like fire
- Key person life insurance to protect your family and your business if something happens to you (some banks require this anyway)
- Employment practices insurance to cover you if an employee sues you for harassment or wrongful dismissal
- If you have an office in your home, you will need separate property/casualty/liability insurance on your business equipment and the section of your home devoted to business (in other words, it’s not covered by your homeowner’s policy)
The National Association of Insurance Commissioners (the national organization of insurers that works with state insurance commissioners) has an informative website called InsureU for Business (http://www.insureuonline.org/smallbusiness/ ) that gives you information on different types of business insurance. Before you start your practice, spend some time in this site learning about types of insurance, what it is used for, and the varieties of coverage.
Home Office Insurance
I have to say, that I could not agree with you in 100%, but it’s just my opinion, which could be wrong.
national life insurance
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