The Importance of Business Insurance

benefits of business insurance

The Importance of Business Insurance

We always think about insuring our cars, our homes, and our boats. But what about our businesses? It’s understandable that we don’t want to think of something bad happening to our businesses but the reality is that disaster can strike at any time. The historic August flooding here in Louisiana caused an estimated $2 billion in damage to businesses, underscoring the importance of Louisiana business insurance. The government estimates that 40% of companies that haven’t prepared themselves to be able to operate after a disaster are forced to shut down. And 25% of businesses fail within two years because of low post-disaster revenue or cash flow. Many times, business owners opt for policies that cover the bare minimum. Business owners are focusing too much on the costs in the right here and now.
True, purchasing insurance will be an additional cost. However, the cost a business owner faces when catastrophe strikes and they are uninsured is tremendous.

Examples of times when it would be useful to have business insurance:

  • You arrive at the office one morning and discover that all the computers have been stolen.
  • An employee leaves the coffee maker on and burns down your building.
  • An employee has a heart attack after you tell them she is getting a substantial increase in pay.
  • You have just mopped the floors, and a customer slips and twists her ankle.
  • Your entire inventory is destroyed when your warehouse floods.

Property insurance will help you repair or replace your goods and equipment when it is damaged. Business insurance goes beyond just disasters such as floods or fires. Liability insurance is essential for business owners. It protects you and your business from being sued. Typically, businesses need a combination of coverage types. The helpful agents at AWS are always available to help you pick the right cover your business needs! Contact us today!

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Melinda Martin

Account Executive

Melinda began her insurance career in 1985 with Alexander & Alexander where she received her Property & Casualty and Life & Health license. Since then she has worked at various agencies in the New Orleans area and in California as a senior account manager for Employee Benefit Plans.  While in California, she was also the Membership Director for the Burbank Chamber of Commerce. Melinda joined the AWS team in July of 2015.

Michael A. Seeling

Vice President

Graduated from the University of Louisiana at Lafayette with a B.A. in Insurance Risk Management and is a graduate of Archbishop Rummel High School in New Orleans. He joined AWS in October of 2008 and has been awarded the Patient Protection and Affordable Care Act Certification (PPACA). Additionally, he is working towards his Certified Insurance Counselor (CIC), Registered Health Underwriter (RHU), and Registered Employee Benefits Consultant (REBC) designations. He is also a member of the National Association of Health Underwriters (NAHU), National Association of Insurance Financial Advisors (NAIFA), and is an active member of the Fore!Kids foundation.