Sherry Ford Director of Business Insurance View Bio

Why You Should Spend Money for Coverage You May Never Need

Nobody enjoys paying for things they don’t use. But when it comes to insurance, your peace of mind is worth every penny. Learn why paying for coverage you may never need makes good business sense.

Protection from Accidents

Businesses can’t always predict what might happen, regardless of how much we try to prevent accidents. Sometimes employees or customers get hurt, and the company is at fault, at least in the eyes of the court. A single slip-and-fall accident could potentially cost your business hundreds of thousands of dollars. Fortunately, it’s easy to protect against such eventualities with insurance products like liability insurance and workers compensation.

Of course, having insurance doesn’t relieve you from making your business a safe place to work and visit; proactive risk management planning can help.  But accidents can happen anywhere, and it’s best to be prepared.

Protection from Criminals

If your company has valuable inventory, then you already know that it makes sense to insure your warehouse from potential damage, theft, vandalism and even natural catastrophes. But even companies that don’t store valuable products may still need protection from criminals if they do business online. Cybersecurity has become a big concern for business and consumer alike. Fortunately, insurance can help when even the best security system fails.

Increase Employee Retention

Most companies want to retain their best and most productive employees. You don’t have to pay the biggest salaries to keep the top performers, but your company may want to provide other incentives, such as a good health insurance plan, retirement plans and employee wellness programs. By offering a private exchange, like Lawley Marketplace, you can offer more choices to your employees that they may be looking for.

You Can’t Buy Insurance When You Need It

Insurance is one of the things that you don’t really want to pay for until you need it, but by then it’s definitely too late. If you want to keep your company in business for many years to come, then you have to properly insure your business.

When you work with an independent broker like Lawley, you gain a trusted advisor in the world of insurance products. We’re not tied to one carrier, so we are free to recommend the best coverage for your needs. This could include things like cybersecurity insurance or self-insuring through captives, options that your current broker may never have discussed with you. We are an industry specialist providing in-house services like underwriting and claims management for companies like you. Let us help you find the best resources to fit your company’s needs.

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