Insurance

Minimize your risk with business insurance.

Understanding risk is essential for anyone starting a new business. The same is true for anyone insuring a new business, says Jeffrey Olmstead, assistant vice president of property underwriting in the small commercial area at The Hartford Financial Services Group Inc. in Hartford, Connecticut.

Insurance is available for many risks, but not all of them--especially business risks. "That can include the risk that [your] market won't materialize, that [your] location isn't appropriate, or that [your] customer base isn't looking for the products [you] are selling," says Olmstead. "Insurance is designed to help businesses manage certain kinds of risks, but not all the risks associated with running a firm."

The following tips will help you decide on the best level of coverage:

• Tips For Starting A Business - Get Expert Insurance Advice
• Tips For Starting A Business - Consider all the risks that insurance can cover
• Tips For Starting A Business - Carefully consider liability to make best choice in insurance
• Tips For Starting A Business - Get competitive quotes for insurance
• Tips For Starting A Business - Manage risk even after purchasing insurance
• Tips For Starting A Business - Re-evaluate insurance coverage needs on a periodic basis
• Tips For Starting A Business - Your Customers May Require You To Have Insurance