Things To Consider: What Could Go Wrong?

Purchasing business insurance? It’s about what can go wrong.

When you start a business, it’s all about dreams and possibilities.  You have to be optimistic and know the future holds promise.  When purchasing insurance, it’s about protecting those dreams and insuring the security of the future.

When purchasing insurance, you need to think of all that can wrong, not right.  A doomsday assessment if you will to pinpoint those key areas of risk to your business. Conduct a risk assessment specific to your business.

Consider the possibilities of a client or customer slipping and injuring themselves and suing you.   What are all the issues that would face your business from the loss of a fire or natural disaster?  What about a car accident involving your business or an employee?

In addition to your own risk assessment, ask others to do one as well.  Your insurance agent should be willing and able to conduct a risk assessment.  Compare notes and see where coverage may be lacking.  Call or visit your state department of insurance and ask to review the types of claims specific to your industry or related industries.

In addition to general liability and property insurance coverage, consider some other types of coverage.  Business interruption insurance covers the losses of income while you business rebuilds or relocates.  Workers compensation protects employees from medical expenses and provides an income from work related claims.  Equipment breakdown insurance covers costly repairs and replacement to major equipment essential to your operation.

Check with your insurance provider about whether professional liability or errors and omissions insurance is needed.

Build your business on a dream.  Insure your business by knowing and understanding what nightmares exist.  Have the hard conversation with your agent and determine what you need for coverage for your business.

Get the coverage you need and save big on commercial insurance!

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Workers' Comp
General Liability
Auto
More..