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Common Risks Your Small Business May Face

As with any investment, running a small business involves taking risks. While you can anticipate operating costs, revenue, and how they will factor into your daily operations, some things cannot be planned. It is nearly impossible to predict when you might lose key personnel, suffer a data breach, or be on the receiving end of a personal injury lawsuit, for instance.

Fortunately, you have ways to prepare for the unexpected. Your insurance agent in Peoria, AZ, will recommend that you take out a policy that will meet your needs. This post describes some of the most common risks small businesses may face. Most insurance policies have provisions for covering them.

Property Damage

Damage to your store, warehouse, or office can impede your ability to work. Acts of vandalism, damage due to severe weather, and accidents can negatively impact your property–including your inventory and equipment. Your insurance agent might recommend commercial property insurance to guard against incidents like these.


Despite your best efforts to keep your place of business a safe place to work, the simple fact of the matter is that accidents do happen. If someone gets hurt on the premises, then you might already be in the crosshairs of a lawsuit. Liability is the act of being held legally responsible for something that occurs at your place of business, and it can also include the failure to fulfill a contractual obligation. Liability insurance can protect the company and its employees.

Other risks can include cyber-attacks, data breaches, and commercial auto accidents. Your insurance agent can help you build robust coverage that will protect your enterprise and peace of mind. Contact your agent today and request a consultation.



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