You’ve already spent lots of time and energy on growing your business. So, it makes sense that you want to protect your hard work with a great business insurance policy.
But before you start spending money on a new insurance policy, you need to do lots of research. It can save you from making any expensive mistakes.
1. Relying on Your Homeowner’s Policy
If you run a home business, you may think that your homeowners' policy will protect your assets. But, that's not necessarily true. Some home policies don't cover home businesses.
Whether you have equipment in the house or meet clients at home, check out different business insurance options. Make sure each and every asset has protection.
2. Skipping Business Interruption Coverage
Many think property insurance is all you need to protect the brick and mortar of your business. Indeed, this coverage can protect you from hazards like fire, storms or even theft.
However, a hazard might cause you to shut down your business, thus leading to loss of income. Business interruption coverage is one way make sure you can meet operating costs if you have to shut down the business for a while.
3. Saying “No” to Life Insurance
It's true that most small business owners are their business. If something bad happens to you, will your business survive? If your business will struggle after you die, life insurance could help protect your surviving assets.
4. No Disability Coverage
Disability is the number one reason that Americans can’t work and lose their savings. Don't get caught without the right level of insurance protection when you need it the most. Whether you have one employee or 50, disability coverage can protect your business and employees.
5. Paying Too Much
When you start shopping for business insurance, it's always a good idea to compare the available policies. Your agent can often compare the policy options that different insurers offer. This could help save money on your policy.
Are you worried that you're paying too much for insurance? Whether you've added new employees or you're opening a new location, it may be a good idea to check your policy. Make sure you aren’t paying too much for coverage, but also make sure you have the right coverage levels.
We've got you covered. Kevin O'Brien Insurance Agency can help you get a business policy that effectively covers your needs. Call us at 650-726-6328 for more information.