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How much is business insurance? What are the different types?

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When starting a business, there are many different things you have to prepare.

From employing workers to stocking up inventory, a lot goes into building a business. The process of getting it all together does not happen overnight. 

Despite all our planning, sometimes things are out of our control. One day you could walk into your store and find out the sprinkler broke overnight, leaking onto all the products. You could leave one night and immediately after, someone breaks in and steals from your business. 

Insurance is a way to have protection for these instances when life takes a turn for the worse. But how much is business insurance? What kind do I need? 

When determining how much business insurance will cost, you must factor the type of industry you work in and the specific job you do.

Learn More: Why small businesses need general liability, property

How much is business insurance?

There is not an exact amount that all business insurance costs. There are several factors which determine the cost of business insurance, such as the type of industry you work in and the specific job you do, according to Andrew Hellman, Allstate business insurance strategic integration and field effectiveness leader. 

Story Credit: usatoday.com

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