The concept of insurance is quite easy to understand. If you now pay, you can get a compensation in future if there is negative events. According to Marshall and Swift / Bokk, we all know we need insurance, but 75% of the business in the United States are also less than 40% or more. What’s more, 40% of business businesses never open after SCORE data, after disaster.
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Why do not small business owners have proper insurance? Is it because it is difficult to understand small business products? Do I need to have a common responsibility, professional responsibility or mistake? Or is it because the price is often unrealistic? Will I have a major risk? Will I risk the product?
For any reason, we know that small enterprises face displeasure disliked by dangerous and disaster. According to a survey from Anwar, at least one small business owners in the past 12 months experienced events which could have been due to an insurance claim. Clearly, this possibility of small business owners is very high.
How do the Society think about illnesses?
According to the latest investigation, 1,100 small business owners have been surveyed in the United States, 63% say they are generally aware of their business risks. These threats are often stolen, prosecuted, car accidents and contractual conflicts.
60% of small business owners say they are insured. More than 40% of the people still believe that their personal insurance is sufficient coverage – for a business claim too. By putting this together, more than 80% small business owners do not have small business insurance or depend on business protection on their personal insurance.
Combined methods are in SMB risk.
Among the 1,100 small business owners of the survey, the top 10 are the most common methods in which small business owners are related to business risks.
84% home office
64% use a personal vehicle for work purposes
Spend 53% on the client’s premises
Keep 50% sensitive / personal information on customers
There are 37% inventory / supplies
Works 36 percent that usually belong to a client’s business or brand
29% of their specific goods
22% has dedicated office space
20 percent workers are salary
7% of the commercial vehicles work
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For example, if your home has an office, it is important that the homeowner’s policy includes costs and limitations related to many businesses, such as loss of business data or business closure. Result of loss of result.
If you use personal car for work purposes, such as holding tools and equipment, you will not be covered by personal auto insurance. The insurance industry is holding jobs in many jobs – the increasing number of insurance now offers free insurance to the underscores and elevator drivers.
Another example: 71 percent of all cyber attacks in small enterprises, while 42 percent of small business owners acknowledge that they are not cyber-liability insurance. Looking at different small business risks, it is not surprising that half of them say that they believe they are well-ill.
Small Business Protection Cost
The cost of small business insurance is at least as compared to you. This is a cost error for small business owners who buy business insurance:
Spend over $ 1,000 over the year
About spending a quarter between $ 1,000 and $ 2,000 a year
Only $ 2,000 per year under just a quarter
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Additionally, the cost of spending is usually $ 5,000 more than $ 10,000, which has a profitable proportion of the cost.
As insurance can be rapidly accessible through online channels, we should expect more business owners to take advantage of insurance insurance products. Probably the products will be made to improve themselves for modern businesses, including coverage to clients, projects and businesses.