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Silicon Valley Startup Business Insurance

Many people starting a business consider commercial or business insurance an unnecessary expense that could be deferred to when the business is well established. In certain kinds of business the law might require you to take compulsory insurance. Every state, for example, requires a business to have worker's compensation insurance to protect your employees. Similarly liability insurance might also be compulsory. Whether compulsory or otherwise, it makes sound business sense to purchase at least the bare essential insurance for a startup.

There are many facets to business insurance like employers' liability; public liability; stock and content; business interruption; legal expenses and medical malpractice. Obviously all will not be applicable to your business. But an entrepreneur on a startup venture should carefully take stock of exactly what aspects of business insurance are necessary at the very least. The entrepreneur should guard against the slew of coverage that an insurance agent will try to sell, much of which is unnecessary at the startup stage. So the first step before meeting with an insurance agent or broker is to be clear about what insurance is necessary and not get taken into buying much of which will be superfluous. A good idea of the minimum required can be got by speaking to an entrepreneur who has passed the startup stage.

A startup business that is covered by insurance, or has included purchase of insurance as part of the project report will find it far easier to raise the necessary startup funding. Many lenders and investors are more comfortable with a business loan or investments with the assurance that their money is protected. They feel reassured, that a business will be able to sustain a financial loss consequent on an unforeseen disaster like a fire or similar calamity, which will force the business to shut for some time. Lenders are more inclined to give a loan where provision is made for insurance purchase in the initial loan applications. An entrepreneur can focus on the welfare of a business and its continued growth instead of fretting about a catastrophe which might arise, which cannot be overcome without insurance.

Business insurance does offer protection from lost income due to unforeseen events. Certain policies provide for cash flow when the unexpected occurs providing the business with money to meet employees' salaries or repair or replace essential equipment if needed. The insurance will sustain the business through a troubled period, without which the business would have gone under.

Insurance by Allied Brokers of Palo Alto, Ca is a well-established insurance broking firm that is well versed in all aspects of commercial and business insurance. It caters to startup companies in Silcon Valley as well as to Fortune 500 giants. Insurance by Allied Brokers can analyze the risk characteristics of your proposed startup venture and could advise on the minimum business coverage required to be able to work peacefully without a Damocles' Sword dangling precariously over your head. Do visit www.alliedbrokers.com/coverages.html for a good idea of the various kinds of popular business insurances. If you are contemplating a startup business in Silicon Valley then do call Insurance by Allied Brokers at 650.328.1000 and one of their brokers will visit you to evaluate your insurance needs. Insurance by Allied Brokers deals in all kinds of insurance, commercial insurance being one part of their expertise.

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