Your business needs commercial insurance. It is the most reliable way to protect yourself from catastrophic damages and unavoidable liability. When you have adequate coverage, your company can stay in operation no matter what craziness life throws at it, providing you with stability in even the worst of times. If you feel a little inexperienced in commercial insurance, fear not. These are the three key tips to making the right choice.
Ask the Right Questions
When you contact an agent about commercial insurance, there are specific things you need to know. The two biggest questions are “What is the scope of services?” and “What is the capacity of coverage?” When you can thoroughly answer these two questions, then you know whether or not an agency can fit a policy to your business needs. By all means, don’t stop here. Anything that is unclear or particularly important to you or your company should be added to your list of questions.
Consider a Business Owner’s Policy
This is a simpler policy that is aimed to meet a small business’s needs with a single framework. Essentially it combines the elements of property insurance with general liability, to protect you from physical damage and loss as well as legal reprisals. Some policies will offer have packages to help your business when circumstances shut operations down for a short period. Always remember that every policy is unique, so double check the exact scope of coverage when you make your choice.
Think About the Future
Ultimately, you want your business to grow and succeed for years to come. This means you’ll need to maintain your commercial insurance for that duration, so choosing your partners in this is a long-term commitment. There are tons of experts in the insurance field, so you can find a great choice, but you want to have the appropriate conversations to make sure you and your agent are a good fit and that you can work effectively with your insurance providers.
Talk to an AFI Insurance agent today, or schedule an appointment to get started on the path to a properly protected business future.
