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**Get a
Quote**
Insuring a small business is not too complicated.
The basic Businessowners policy is set up much like a homeowners policy,
as one policy insures the building if you own it and/or your contents,
plus liability coverage.
In addition, this policy will provide you with loss of income while you
wait to resume business, after a serious covered loss.
If you have any employees, the Commonwealth requires you to purchase Workers
Compensation. If you do not and an employee is injured, that employee
can sue you. The State can also levy fines and close you down.
If you have property that moves around, you will need to add an Inland
Marine policy.
If you have other owners, you should think about a "Buy and Sell"
agreement. This allows the surviving owner to pay off the heirs of the
deceased and own the business outright. This is usually a good idea, as
the heirs will want to help manage the business but many times have little
knowledge of it.
You should also consider a Retirement plan. There are significant advantages
by doing it under the business. Even if you put a small amount away, you
will be much better off as time passes.
Would you like more information? Please go to our customer
care page.
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