Startups and small business are crucial to a country's economy. Unfortunately, many of these businesses fail.

There are several reasons why a lot of startups and small businesses fold. Business owners can't avoid every business risk, but they can still protect their business and improve its chances of surviving by getting the appropriate insurance policies.

Some homeowners have the misconception that once you purchase an insurance policy, you’ll be spared from all the expenses you need to have your house fixed. Make sure to scan through your policy to know what’s covered, so you can avoid being unprepared when something outside the policy occurs. Here are some of the things homeowners would still need to cover despite having a policy.