As a business owner you are the prime caretaker of your business and that is why it is so important to have a backup plan so your business does not suffer if you are not available. Small businesses with fewer employees are especially susceptible to the consequences that can occur if something happens to the business owner.

If you own a small growing business you may want to consider business overhead expense insurance. This insurance is designed to pay the monthly expenses of your business if you become disabled.

If you become disabled, the last thing you want is to have to use personal funds to meet the expenses of your business or in a worst case scenario, have to close your business. Knowing that business expenses will be covered in an emergency can give peace of mind to your customers, creditors, and employees alike and this can benefit you and your business.

If you choose to sell your business after becoming disabled, Business overhead expense insurance will pay the benefits to keep your business running while you look for the right buyer. As the business owner, you will get to customize your policy for the specific needs of your business.

For a regular business overhead plan, the business expenses that are qualified for reimbursement range from the lease or rent of the building to employee benefits. Any mortgage payments, utilities, maintenance services, accounting, legal services, and automobile expenses will be reimbursed with this plan as well as employee salary and the salary of your replacement.

If keeping your business protected is important to you, as a business owner you need to take the necessary steps to prepare for any emergency. HR Solutions & Brokerage in Lakewood, Colorado that can help keep your business protected from unforeseen events. If you want to move your business forward and motivate your employees take action and contact us!

 

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