We have gone over some of the important coverages a small businessperson might overlook, and which could make the difference as to whether a business survives a loss or can continue to run.
Let’s look at a few more you might want to discuss with your licensed insurance professional so the two of you can weigh the risks and benefits of them.
Glass insurance is a policy, usually in the form of a rider, that will pay for plate glass storefronts and broken store windows which may be excluded in other policies.
Ordinance or Law Insurance
This type of insurance, covers losses when a replacement of your building may not satisfy town or city regulations which may have been enacted after your building was established or if your property is grandfathered. This comes into play when, for example, your building is 100 years old and was built before today’s environmental standards were even thought of.
Crime insurance is the type of insurance which is meant to cover losses which are incurred by robbery, burglary, and other types of theft of money, property and/or securities whether that theft is committed by outsiders or by your employees.
A fidelity bond is a type of insurance protection which indemnifies against theft or damage to property by another person during work hours. Fidelity bonds are frequently address the losses of your employees and their losses.
Again, you will want to ask your licensed insurance professional to tell you about any other coverages of which you might want to avail yourself.