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So now that you are getting your small business up and running, you want to make sure that you make a trip to a small business insurance agency. At a small business insurance agency, you can research and decide upon the kind of small business insurance that is right for your company; do you need anything more than general business insurance, or are you a professional corporation that needs the protection of E&O insurance as well? Are you a product manufacturer? Are you large enough that you need to insure yourself against employment-related lawsuits?
All of these questions require a some very serious scrutinizing. Nearly all businesses will require some degree of protection from false advertisement, bodily injury and property damage, and the quotes for these general business forms will vary widely depending on your agency. If you are a lawyer, doctor, accountant, dentist, real estate professional or other such professional person who would need protection from possible negligence, your small business insurance agency will probably offer you various professional insurance packages. You may also need some kind of insurance from product malfunctions if you are a manufacturer, however this, of course, depends on the kind of products that you are manufacturing. And if you have expanded your business to a degree that requires managers and some degree of bureaucracy, you will also need some kind of EPLI insurance to protect yourself from the potential pitfalls of sexual harassment, workplace discrimination, and wrongful termination. As you will probably hear your agency say, you can never be too safe.
