There are a handful of items that every small business, even a home-based company, will be expected to have and in place before various external entities will consider engagement with the startup. Some of them are obvious such as a tax identification number and business license but, believe it or not, many external agencies also expect a bona fide business to be able to show proof of commercial insurance as well.
For example, many government contracts and procurements that small businesses are easily able to win due to preference will expect the given company to be able to show not only does it have insurance but that the policy has a minimum amount of coverage value as well. In addition, many financial institutions in Monroe, CT and elsewhere that provide key business financing, lines of credit and other loan mechanisms will also require that a company applicant has certain insurance protections already in place evidenced by proof of coverage.
Fida Insurance Group can guide your new business through the coverage maze to the right policy at the right stage in your startup life. Instead of getting stuck with a balloon policy for what you don’t need and costs too much, the staff at Fida can match your specific need now and go forward the next five years with a commercial insurance policy that makes sense. So you don’t have to be shut out of opportunity in Monroe, CT or in the wider region simply because of an oversight task. Fida Insurance Group can be your guide to business growth and greater success. Give them a call or email today!