The Minimum Insurance for a Business

Each business has its exposure to risk. The type and severity of risk greatly vary between the business classes. For a long haul trucking company, an automobile liability risk is one of the trucking company’s major exposures. Yet, a small mercantile shop may not have any auto liability risk exposure. As a result, to determine a business’ minimum insurance needs an accurate risk assessment survey should be performed. Prior to starting the risk assessment, the business owner should establish a realistic budget for all of the insurance expenses. Remember: Nobody should work only to pay for insurance and taxes....

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