What you should know about small business insurance.
Small business owners have a lot to juggle. They may be responsible for everything necessary to run the actual business, dealing with sales, connecting with clients, and even tidying the office. Funds may be limited and risk management may always fall to the back burner. Unfortunately, even small businesses can fall victim to expensive and extensive insurance claims, from property damage to liability concerns. Because of this, it’s important to have a basic understanding of what small businesses need to know about insurance.
Don’t overlook important coverage options. Although you may think that the standard policy is good enough for your business, it’s important to remember that it probably doesn’t cover everything you might experience. Coverage options like business interruption and flood insurance may be a minor expense now, but they’ll save you lots of money and time in the long run, should you ever need to file a claim.
Look for discount opportunities. Every insurance provider is different, but many do offer lower prices for combined policies, similar to the discounts offered for combined homeowners and auto policies for consumers. Your insurer may even offer discounts for taking certain safety precautions. If you’re not sure about what discounts an insurance carrier provides, ask!
Review and update coverage every year. As your business grows, your business insurance will need to, too. You might need certain coverages now that you didn’t need last year and vice versa, so taking the time to review and update your policies with your insurance agent will ensure you’re spending exactly what you need to.
Need to get started on a reliable business insurance policy? Contact Lou Aggetta Insurance Services in Pleasant Hill, California to get started!