Can You Insure a Business Against Failure?

Wouldn't it be nice if there were a way you could buy insurance that guards your business against failure? A policy that paid out the equivalent of your business’s potential after it proved that it wasn’t going to make it on its own? Unfortunately this type of insurance is just a dream, but that doesn't mean there aren't insurance policies out there that can help prevent the failure of your business and lend a hand during hard times.

Ensuring Against Loss and Failure

Depending on the type of business you have, there may be many insurance products that can help your business control potential losses associated with failure, natural disasters, theft and more.

Equipment breakdown insurance is a popular product among business owners that have pieces of equipment which are essential to the continuation of their company. Crop insurance can help farmers get reimbursed for lost crops. Cyber risk insurance can help pay for losses experienced by a business’s customers as well as actual losses experienced by the business when their network goes down or is infiltrated. Property and flood insurance help protect the value of a business’s real property in the face of theft and natural disasters—and these are just some of the types of insurance that a business can invest in to protect its assets.

One Step Further with Business Continuation Insurance

A loss of assets isn't the only risk facing a company. The inability to conduct business after a natural disaster or other incident can also cause a reduction in revenue and cash flow as it forces your former customers to find a new service provider which could result in a permanent loss of those clients. Business continuation insurance can help pay the expenses of conducting your business in a temporary location and also can pay some of the ongoing expenses of your business even while it is out of commission.

No business is bulletproof. Insurance helps a business to continue running even in the face of extreme damage and circumstances. Give us a call at 614-221-1500 or stop by our website to find out how our various Columbus business insurance policies can create a bulletproof vest for your company.