Are you a small business? We are, too!
At Farmers Insurance, we are particularly sensitive to the needs of small business owners because we're a small business, too. While there are many, many benefits to owning your own business, small business owners often have a very fine margin between profit and loss.
"One loss can wipe you out financially," said Insurance INSIDER Mike McBride. "It's a myth that small businesses have deep pockets."
It's important to discuss what kind of business you have with your insurance broker or agent, as each type of business has wildly different needs; for example, a restaurant may have to have coverage in the event of food-borne illness, which is not a concern if you own a clothing shop.
However, some of the types of insurance that you may have to consider include general liability insurance, if your business is located on a property where customers might fall, slip or trip; product liability insurance, in the event that a product malfunctions; or commercial property insurance, which covers loss and damage to company property due to any number of events, such as fire or vandalism.
Farmers Insurance is unique in that there is no monetary limit to the damages that you're owed.
"If it costs you $12,000 for twelve months, then so be it," said Mike.
This is just one of the ways that Farmers Insurance takes care of their small business clients. We will discuss more details in next month's INSIDERS column.
Mike McBride Agency
1548 E FIRST ST., NEWBERG, OR 97132