Daily English Quiz

Test Index
951 952 953 954 955 956 957 958 959 960 961 [17-Feb-2020] 962 963 964 965 966 967 968 969 970 971 972 973 974 975 976 [03-Mar-2020] 977 978 979 980 981 982 983 984 985 986 987 988 989 990 991 [18-Mar-2020] 992 993 994 995 996 997 998 999 1000

My Account / Test History


Business Success Tips

Think hard about whether insurance is necessary

Few startups have extra capital to spend on insurance they dont really need. Can you save a buck by going without? In general, you dont need insurance until you hire your first employee, and then youll need a lot of insurance, says Mazzella. If youre working out of your home and your only liability is someone tripping and falling during a visit or losing your office equipment in a fire, you can make sure your homeowners insurance covers that. If youre operating outside your home, youll want a minimim of insurance on your office and assets.

What about liability insurance? That depends on your business. If youre a service provider whos unlikely to get sued no matter how poorly you perform, such as a proofreader or graphic designer, you probably dont need insurance. We tell our bookkepers that every insurance agent will tell them they need errors and omissions insurance, says Mazzella. But weve never heard of bookkeepers being sued unless they stole from the business or committed fraud, and no insurance will cover that.If you sell products, you again have to evaluate your risk. If you sell bottle corks, your liability would probably be limited to replacing bad bottle corks, says Williams. If you mass-produce cherry jam, you have the liability caused by people getting sick on your jam or breaking their teeth on a cherry pit. You wouldnt want to self-insure that liability. Youd want product liabliity insurance.

Home
My Account
English Test
Verbal Reasoning
GK Quiz
Grammar Test