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Bankrupt Proof Your Biz: Do You Have the Right Insurance for Your Biz?



As a Small Business Owner, the Number 1 mistake you can make concerning one’s business is not having insurance to protect your business a$$ets. You will be surprised that are many small businesses that do not have any form of insurance to protect their business a$$ets. Sustainable businesses know the importance of having insurance to cover their a$$ets while in business.


This article is for any small business owner who fails to realize the importance to cover your a$$ets while in business. The best way to do this is by having insurance coverage for your business.


The business owner needs to ensure that they have the proper business insurance needed to operate the business in an efficient and effective manner. Operating a business is very challenging without one having to worry about major financial loss or monetary loss due to unforeseen and unplanned circumstances. How business insurance can protect one’s business from many common losses experienced by many business owners:

1. Protection from property damage.

2. Business will not be interrupted.

3. Will not have to deal with theft, personal liability, or employee injury.


Buying the right insurance coverage certainly makes the difference between losing one’s business to a dissatisfied client in a lawsuit or recovering with minimal business interruption and financial impairment to the company’s operations. Before buying any type of insurance for your business, it is advisable to speak with an Insurance Agent (one who has experience working with small businesses) to figure out which type of insurance will meet the needs of one’s business.


5 Types of Insurance that will Protect Your Business A$$ets:


1. Commercial Auto Insurance: This type of insurance is purchased to cover all vehicles that are used for business purposes and business operations.

2. Property Insurance/Rental Insurance: This type of insurance protects the business property from possible losses in any way. Rental insurance is good to have when a business owner is a leasing a building to operate their business and want to cover their business property like equipment and inventory from possible losses in any way.

3. Liability Insurance: This type of insurance protects the business assets and personal assets of the business owner from different types of liability.

4. Business Interruption and Continuation Insurance: This type of insurance provides coverage for business expenses associated with running a business, i.e. utility bills and payroll. This type of insurance comes into play when the business is out of operation for a long period of time due to fire or reasons beyond the owner’s control.

5. Professional Liability Insurance: Better known as Errors & Omissions insurance provides protection to the business for damages because of professional advisor, employee, or board member due to negligence or failure to use due diligence.


There are many other types of insurance coverage a small business owner should consider purchasing to protect their business. So, please speak with your Insurance Agent to figure out the best insurance coverage for your small business.


Donya Zimmerman’s alter ego is the Powerful Biz Woman. The Powerful Biz Woman mission is to encourage and educate women 35 years old and older to become the CEO of their own lifestyle through business ownership. She is a business educator, author, show host, and public speaker. Donya has created the Powerful Biz Chat Live Show that airs on Facebook Live. Donya discusses everything Business Startup and Entrepreneurial Mindset. Powerful Biz Chat Live airs three times a week at 800 pm. Donya has started a movement, along with her business partner, Alina Lopez Thomas, the Ultimate Biz Conference. The mission of the Conference is to educate aspiring entrepreneurs and small businesses on how to cover their a$$ets while in business. For more information on The Ultimate Biz Conference, subscribe to www.ultimatebizconference.com to stay up to date on UBC events, read our educational blogs, and receive helpful biz tips.


If you are looking for a speaker for your next event, then contact the Powerful Biz Woman (Donya Zimmerman) at dzimmerman36@gmail.com; 443-635-4557; or Https://www.facebook.com/PowerfulBizWoman. The Powerful Biz Woman will be a great asset to your next event.


Disclaimer: Materials on this blog/website have been prepared by The Ultimate Biz Team for informational purposes only and do not constitute advertising, a solicitation, or professional (legal or financial) advice. Internet subscribers and online readers should not rely upon this information for any purpose without seeking advice from a professional expert (like Attorney, Accountant, Insurance Agent, Banker, etc.) in the reader's state. The information contained in this blog/website is provided only as general information that may or may not reflect the most current business, legal, or financial developments; accordingly, information on this blog/website is not promised or guaranteed to be correct or complete. The Ultimate Biz Team expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this blog/website.



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