Best Small Business Insurance Info: How to Find and Choose the Best Insurance Solution for You

Are you a small business owner? No matter what kind of company you run, you’ll need general liability insurance and maybe some additional coverage depending on the industry you’re involved in. How do you know how and where to apply for the best small business insurance policy?

Read reviews on various insurance companies by other businesses in your industry to learn which ones offer quality solutions. Consider whether or not you want an insurance representative or broker to help you find the right coverages. If you decide to work with a specialist, ask what kind of information he or she will need in order to determine your specific needs. Have all of the documents and information prepared. Small business owners typically need to provide details such as physical location, number of employees (if any), total payroll size, business assets, gross annual sales (if there are any to report), and so forth.

Even if you decide to apply for insurance on your own without the help of a broker, you’ll still need to have this information ready.

Best Small Business Insurance as an Investment

Think of commercial insurance as an investment. It will cost money, but it will protect your business from unexpected expenses such as lawsuits and worker’s compensation. The best small business insurance will also protect you from industry-specific problems. For instance, if you are involved in web design, you don’t want to risk financial losses associated with technological glitches, miscommunication, etc. If you are a small beauty salon owner or barber, you don’t want to risk equipment malfunctioning, allergic reactions to certain chemicals, or someone tripping and falling on your property.

No business, no matter how small, is 100% immune to possible lawsuits. People will sue over literally everything these days, and only the best small business insurance will protect your assets. If you want to stay in business for a long time, and hope for the ability to expand it someday, then you should be prepared to handle any kind of accident. It will be very difficult to survive if you suddenly owe a lot of money in compensation, or find yourself dealing with damage caused to your place of business due to extreme weather. The only real solution is to have good insurance from a reliable company that has a lot of positive reviews.

So, where can you get the best small business insurance online? Check with Hiscox Inc. to see what they have to offer for business owners in your industry. You can either get a quote through the website or call and speak to a licensed agent.

How Do I Find a Great Business to Buy?

If you have always dreamed of owning your own business, but not necessarily starting from the ground up, buying an established business may be right for you.

There are many businesses available for purchase, from franchises to unique companies.

Businesses do not always announce they are for sale. Sometimes you may not even know a location is going out of business until they announce the going-out-of-business blowout deals.

The Internet is a great resource for finding businesses to buy.

BizBuySell has helped connect business sellers and new owners for more than 20 years. The company has helped sell more than 100,000 businesses and currently has 45,000 active for-sale listings.

The website also provides tools and advice on selling or buying a business, financing the purchase, and more. BizBuySell users can search by state, county, business category, and minimum/maximum price.

More than 15,000 active business-for-sale listings from around the world are listed on Merger Network. The network actually allows sellers to post their businesses for sale ads for free. Thousands of entrepreneurs, investment bankers and business brokers can connect with these sellers. There is no cost to sign up, which is great for browsing new opportunities.

More than 60,000 businesses are currently listed for sale on the website Businesses for Sale. Users can search by sector, region or franchises for sale. Businesses for Sale also has a section on top searches, which includes price reduced businesses, unique businesses (i.e. a horseback riding business) and small businesses for sale.

Most of the sellers on each website offer information on the businesses, including images, its location, sales revenue, asking price, lease terms, competition and market, and much more.

Beyond the information in a listing, you should speak with the owner to get as much information as possible about the business, including why they are selling.

Benefits of a Franchise

If you’re considering buying a business, finding a franchise for sale is one way to get started with a business that is already well-established. Some of the benefits of owning a franchise include:

  • Brand recognition
  • Ongoing operational support
  • Continuing marketing support
  • Assistance with purchasing and logistics
  • Less risks
  • Joining a family of other franchisees

If you’re considering buying a franchise, inquire about how the franchise works. For example, what are the ongoing royalty fees and marketing fees? How much creative freedom do owners have? How easy is it to get support from the franchisor? All these questions and more should be considered. If you’re buying a franchise, research the franchise model as if you were starting from the very beginning.