We never know when the unexpected is going to happen, but insurance is there to (hopefully) give us some sort of safety net. With all of the perils and risks that businesses are exposed to, it's natural to be nervous about purchasing insurance for your company. You can never know if something bad is ever going to happen, but you need to be ready for it.
The first thing you'll want to do is find an insurance agent you really trust. You don't need to call any random big insurance company and accept the first person that answers the phone. Do your homework and research various local agents to find ones that have a good reputation and experience working with business owners. Speak with business owners that you know in the area and ask them who their insurance agent is and if they're happy with their insurance. You can even ask them about the types of coverage they have because some of it may be applicable to your business.
You'll need property insurance and general liability insurance, but one piece of coverage some people fail to remember is business interruption insurance. If your business is damaged and you are unable to open to make money, business interruption coverage can help you with that. Remember, even if your building isn't ready for business, you may still need to pay salaries, rent and other bills. Business interruption helps you afford that.
Insurance is not a one-size-fits-all type of thing for every business. So make sure that you are honest with your insurance agent and you give them all of the information they need to create a good policy.
Are you a business owner who is dealing with a denied commercial claim? The Voss Law Firm focuses on commercial insurance claims management and can help you fight against the insurance company. Call us today for a free consultation at 888-614-7730.