Keep these questions in mind when securing business insurance.
As a business owner, you want to be sure that your hard work and dedication are protected. You built your business from the ground up and know that all it takes is one disaster for a struggling company to collapse. When you’re looking for commercial insurance coverage, it’s worth asking these questions to your insurance agent so that you better understand your coverage and ensure you’re getting the right protection.
- What coverage do I need?
This answer will depend on your business industry, size, location, and risks, among other factors. However, every business should consider securing:
- Business property – protects your property and everything inside
- Business liability-protects your business from the cost of covered liability claims and lawsuits
- Commercial umbrella – provides an extra layer of liability that arches over existing coverages
- Workers’ compensation – helps to pay certain benefits to employees who experience injury, illness or death during their employment with you.
- Are there any other coverages I need to consider?
If your business has a company vehicle, you will need to have commercial auto insurance. If you sell products, you should secure product liability insurance to protect you from damages, injuries, or lawsuits related to your products. If you use rented equipment, it needs to be insured. Talk to your agent about what other policies your business could benefit from.
- Are there any discounts available?
If you don’t ask, you don’t get! As a small business owner, your budget might be tight. Discuss with your agent if there are any discounts you would be able to qualify for. If there aren’t any, you can discuss possible discounts that could qualify for in the future.
Working with the right experts can help you find the commercial insurance to suit your needs and business. Contact the industry experts at C.V. Mason Insurance Agency in Bristol today to get started on your tailored coverage.