Whether you are just about to start a new business or you already have a business and you need new insurance for it, there are some very important questions to ask yourself and your insurance agent before you pick your policy. According to APCO Insurance professionals, https://www.goapco.com/, here are 5 of the most important aspects to consider:
- The risks that your business is exposed to – any area of activity involves some risks and your insurance should be able to address those risks.
- What you don’t need – you should also evaluate your policy in terms of coverage that you don’t need – you should not pay for types of coverage that do not apply to your business;
- Types of insurance that you do need – the range of mandatory policies includes a general liability insurance to cover you for any personal injury or property damage claims, a professional liability insurance for any claims related to errors or omissions that your business might make, commercial auto policies to insure your commercial vehicles and property and a worker’s compensation insurance if your business has employees;
- Multiple policies or one that includes all you need – you can choose to include all the mandatory policies into one policy, it is the cheaper solution in most cases;
- Special needs – if your business has special insurance needs, ask your insurance agent or broker to find solutions that cover you for those special risks.