Scaling Safely: 7 Ways to Protect Your Business as It Grows

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As your business grows, so do your liabilities. Your initial insurance policy may not be enough to cover the increased risks associated with expansion. It is crucial to regularly review and update your coverage with a commercial insurance broker, like us at Compass Direct, to ensure all aspects of your business are adequately insured.

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5 Business Risks: Protect Your Company

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Property Damage Property damage can arise from various sources, such as natural disasters, accidents, or theft. Repairing or replacing damaged property can be a costly affair, which can adversely affect your business operations. To shield your business against property damage, it is crucial to obtain commercial property insurance. This type of insurance can provide coverage for damages to your building, equipment, and inventory. It can also cover the cost of lost income if your business is unable to operate due to property damage.

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Insurance Coverage: Does Your Small Business Need It? Yes!

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Depending on your location and industry, state or federal requirements vary for insurance coverage. For example, if you have employees, you will likely be required to carry workers’ compensation insurance. It is important to research the requirements specific to your business to ensure compliance with regulations.

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Insure Your Home-Based Business Now

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Regardless of which type of insurance you choose, before you obtain coverage, evaluate your unique risks to better understand coverage needs. Aside from issues like loss of income or injury, specific risks accompany a home-based business.

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6 Holiday Office Safety Tips

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Decorations, additional inventory, and other unexpected items usually pop up during this time of the year. Hence, it may be a great idea to revisit ladder and lifting safety if your industry requires these skills.

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End-Of-The-Year Business Insurance Review

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Within the past year, did your company improve your business facility? Are there areas of your property that need maintenance or repair? Review your property insurance to make sure you are fulfilling all obligations that may exclude you from available coverage for certain risks.

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