Simple steps to help insure and protect your business fast

October 16, 2014

Why risk what you've worked so hard to build? Protect your business with a personalized insurance policy that covers everything from property to liability. Policies can be customized to your business needs. So where should you start?

Whether starting a business from the ground up or expanding your existing business, insurance can play a large part in keeping your business protected. With a variety of insurance providers available and countless plans to choose from, it can be hard to figure out what your business actually needs.

Here are a few questions you should ask yourself to determine if the coverage is right for you:

Simple steps to help insure and protect your business fast

What type of business do you own?

Are you starting up a home-based business or will you be running a large corporation with dozens of employees? The type of business makes a big difference.

Insuring a home-based business may be as simple as broadening your existing home insurance coverage. In contrast, choosing coverage for a larger business can get very complex with options for disability insurance, life insurance, property insurance and much more.

What is your budget?

Every business has a budget, and this budget must account for insurance. However, the cost of your insurance coverage can vary greatly depending on factors such as:

  • How much your liability insurance covers
  • What type of insurance you offer to employees
  • What business assets are covered

Are you looking for full protection?

Depending on your concerns and budget, you may want to look for more comprehensive coverage. There are insurance plans available that cover everything from losing a key employee to protecting your commercial vehicles.

Talk to a professional

After reviewing the previous questions, you may have a general sense of what insurance coverage your business may need. At this point, the next step is to talk with an insurance agent that works with general insurance plans and specializes in business insurance.

Often insurance agents will have access to a variety of plans from insurance providers, and they can help to customize all options so that they are tailored to your needs.

With all of the costs and worries that go along with operating a business, having an experienced insurance agent working on your side is a great benefit. And as you begin to choose what insurance you may need, it is always a good idea to ask more questions rather than less, because choosing too little or too much coverage can have major impacts.

Make sure that you explain your business and operations in great detail to ensure that your agent has as clear a picture as possible. From there, your agent will likely recommend certain products and steer you away from others.

Once you have a plan written up, be sure to thoroughly look over all of the terms and ask questions. Make sure that the coverage seems fair for the price and leave no stone unturned.

Enjoy the benefits

Coverage equals peace of mind. Once your business has been insured, you can relax a little and focus on other details concerning your operation. But remember, as your business expands or changes, it is always good practice to regularly review your insurance to ensure that your coverage keeps you fully protected.

The material on this website is provided for entertainment, informational and educational purposes only and should never act as a substitute to the advice of an applicable professional. Use of this website is subject to our terms of use and privacy policy.
Close menu