Business owners have a lot on their plates. It’s unsurprising that many put off getting insurance for their small business. To save time, it’s tempting to grab a quick policy “off the rack” however, that will likely fail to truly protect you from the risks you likely face as a business owner.
You’ve worked hard to build your business so protecting it to preserve your income, credit, and employees is important.
Whether it’s time to purchase a policy or if you’re aiming to compare rates, we can help match the right policy to your business. When acquiring commercial insurance, here are 4 things to remember.
Revisit Insurance Coverage Annually
As organizations grow, so do insurance coverage obligations. Launching new services, growing your sales & marketing efforts, and bringing brand-new staff into the fold adds liability and more. Given this, it’s wise to review your insurance coverage once per year. As an independent insurance agency, we comparison shop from multiple carriers to find the best rate for your situation.
Compare Insurance Policies and Rates
Maintaining appropriate commercial insurance is a continuous obligation. The kinds of policies offered, customer service, and more can differ significantly both by the insurance carrier. This is why working with our team is beneficial. We offer unbiased information about carriers to ensure you get the best policy from a carrier that you can be confident in.
Take Inventory of Risks
The same insurance policy for a dry cleaning operation would be a bad match for a bakery. A policy developed to deal with the requirements of a specific business, with deductibles set at a proper rate, will help entrepreneurs save money on insurance costs, and be better matched to risk profiles.
Bundle Insurance with a BOP
Commercial insurance policies are frequently bundled into what’s described as a Business Owner Policy, or BOP for brief. Integrating multiple insurance securities through a single carrier can save money. With a BOP you can also find other enhanced insurance coverage options to maximize your protection.
As always, we are here to help! If you have questions, call today and speak to an agent.