It all begins with skills, talents, passion and a dream. The decision to bundle those things and seize an opportunity to start your own business is the first of many choices any small business owner will make. 

After that big decision, you might need to dive into market research to build a strong business plan. That leads to even more things to think about in the spirit of supporting a successful venture — from zeroing in on the best location to building a brand and all the things that come in between. 

Amid all the selections that await new small business owners, you’ll also want to start thinking about the right type of insurance coverage to keep your small business protected.

For many, an essential insurance is property coverage. While this type of insurance can be broad, here are three ways it may protect your business.

• Property damage

  In the unfortunate event of a fire or other destructive incident, this insurance is meant to help cover building repairs. Depending on your policy, it may even help cover repairs to landscaping, exterior signs or other outside structures. 

• Damaged inventory

  Let's imagine a pipe bursts at your place of business and, along with ruining some flooring, it destroys some office computers. With the right commercial property insurance, not only is the building protected, but it may also cover the contents inside. And, this doesn't stop with computers. It might also cover damage to product inventory, essential equipment and tools, furniture, and even documents and data.

• Loss of income

  After that pesky pipe incident, what if you need to close for a couple of days to make repairs? One of the more important aspects of some property coverages is that you may be reimbursed for earnings lost during a loss-related closure. This might help you pay employees, rent or other critical business bills.

There are a lot of variables that come with property insurance, so it's important to have an agent help you fully understand what coverages your business might need. Thankfully, most commercial property insurance policies are flexible and can be customized for specific small business needs. 

Our knowledgeable and friendly agents can help you get a policy started or answer any questions you might have. Find a UFG agent near you today!