Protect Your Business with These 5 Insurance Tips

It’s always important to be prepared for what’s ahead. And for business owners, the following five tips related to insurance may be good ideas to consider.

1. Be sure you’re using the right insurance company for your needs. Businesses outgrow insurance companies. Those that are good for a startup business may not be good for a business with greater income and assets.

2. Be sure you have the right business interruption insurance. Be sure to consider the types of events that could interrupt your ability to operate, and confirm those events are included in your policy. As many business owners learned in 2020, pandemics are generally excluded from business interruption coverage.

3. Be sure you have general liability insurance. This type of coverage protects you from claims against you, your business or your employees. You may also need special coverages such as cyber liability insurance.

4. Be sure you have workers’ compensation insurance. Workers’ compensation insurance protects workers when they’re injured on the job, but your needs can vary. For example, if you have a mobile workforce, adequate coverage independent of location is critical.

5. Be sure you have commercial auto insurance if you need it. Depending on your business, you may or may not need commercial auto coverage. For example, contractors and realtors who drive regularly for work should have commercial auto insurance.

Proper insurance coverage is an important part of being prepared. Call or email us today to schedule some time with us to review your policies and make sure you have the right coverage.