What should you do before buying business insurance

You may be wondering about you need to prepare before getting business insurance such as a buy sell agreement. The preparation for this important business decisions is easy when you’ve taken the necessary steps. Once you’ve done that, preparing the information you need before getting covered should be easy. Here are the things you should have ready.

The Type of Insurance your Business Needs:

Your business Insurance needs are unique to your company. There’s no one size that fits all. Whatever industry you’re in. You’ll need liability coverage to protect you against the lawsuit. Other coverage types you may need include commercial auto insurance to protect the vehicles your business owns and worker’s compensation insurance to pay for medical treatment and lost wages of injured employees. Determine what coverage your business needs. Talk to your agent.

Business Risk Assessment:

Your agent will help you determined the risk your business face. Some you may already know, while others you may not have realized until you talked to your agent. He/she shall review your insurance application and determine whether you’re property coverage.

Keep in mind that your policy will have a deductible and premium. The deductibles is the money you pay before your policy covers you when making a claim. Meanwhile, the premium is the amount you pay for the coverage. Higher deductibles translate to lower premiums, but higher out of pockets costs. That's why it’s important that you determine a deductible that you can afford in case of a covered claim.

Assess your risks yearly. Note that your liabilities can grow as your business grows as well. It wouldn't be smart not to have enough coverage in the even of a disaster. So be prepared to call you agent if you have a new equipment in place or you decide to expand your business.

Umbrella Coverage:

Consider getting umbrella coverage. Such coverage protects your company above other liability coverage. This covers expensive claims that are more than the limits of your standard policy.

To know more about business insurance, talk to one of our agents here at Vianca’s Insurance & Financial Service. We are in the business of helping individuals find the lowest rate possible for business insurance. We offer free quotes that you can get within minutes by clicking here. Discuss your option with us one text or call (619) 799-9443.

2 views0 comments

Recent Posts

See All

¿Tiene En Prioridad La Salud De Sus Empleados?

Si usted es dueño de un pequeño negocio, la salud de sus empleados son siempre unas de las prioridades. Usted tiene la responsabilidad de garantizar que sus empleados estén contentos y seguros de salu

© 2019 by Vianca's Insurance & Financial Services.