Take These Questions Into Consideration When Getting Business Insurance
All it takes is one false move, one small error in judgment, or one storm to put your entire life’s work at risk. Are you putting your business on the line by having the wrong type of insurance? Is your current insurance policy the right fit for your business needs? You’ve poured blood, sweat, tears, and serious money into getting where you are in life and you can’t afford to get the wrong policy. When you’re getting coverage, ask these important questions.
Do I have the right coverage for my industry?
The type and amount of insurance you need will depend largely on the industry you’re in. A software firm will need different insurance than a restaurant. Although your insurance agent should be familiar with the coverage your industry requires and the risks that you could face down the line, it’s worth doing some research yourself. When you are familiar with the potential hazards and common claims in your industry, you can talk to your agent about securing add-on policies that could make a big difference.
How do I know if I have enough coverage?
Keep in mind that no one is ever fully covered against all possible events and claims. However, you can be prepared for the most likely and the most destructive of claims. If a catastrophe were to occur, would you have enough insurance? Are your coverage limits high enough? Discuss the adequacy of your current limits with your insurance agent.
What other types of business insurance should I know about?
Business owners should consider adding on cyber liability insurance and employment practices liability insurance (EPLI). EPLI protects a business against lawsuits filed by employees or potential employees, such as wrongful termination, sexual harassment, and discrimination. Cyber liability insurance is important for businesses in this tech era as it helps to cover the costs incurred related to a cyber attack or hacking event.
If the worst does happen, having reliable insurance can mean the difference between staying on track and your business closing its doors for good. For the easy and convenient insurance services that you need, contact the experts at Artisan Insurance Solutions. We are ready to get you the coverage that you need today.
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