5 Tips for Understanding Your Business Owner’s Policies
It would be nice if you could just contact your insurance broker and ask them to give you an insurance policy and they would just provide you with the coverage you need. Sadly, that’s not the kind of world we live in. In order to ensure you’re business is properly protected, there are 5 things you need to keep in mind regarding business owner policies.
Being a part of an association can help you earn a lower price on your business insurance. Being a member of some associations, such as the Chamber of Commerce often makes you eligible for a group rate.
Pay attention to how industry law suits have been settled. Legal changes in the industry can influence the amount of money you have to pay for your insurance premium. The same industry changes can also impact the amount of coverage you have.
Whenever possible, purchase a package. This can save you an enormous amount of money without limiting your coverage.
Make sure your working with an agent who has a strong understanding of both your business, and your industry. This type of knowledge means they’ll be able to help you make informed decisions about what business owner policies will be a good fit for your business, and help you get a good deal without sacrificing coverage.
Choose your insurance agent with care. When working with your insurance agent, you need to be upfront about the amount of assets your business has. The amount and type of assets impact the amount of business liability coverage you require to keep your business, employees, and customers safe.
If you find yourself in need of insurance, or have questions about your current business owner policies, you should contact us. We’re happy to help.
Posted on June 5, 2014, in Agency, Uncategorized and tagged Bonds for Small Business, business liability insurance, Business Strategies, Small Business Ideas, small business protection. Bookmark the permalink. Leave a comment.