Tips for Buying Small Business Insurance

You’re a business owner, and for that, you should feel proud and accomplished. But owning your own business comes with a lot of hard work and responsibility — and that includes protecting it from the unexpected with the right insurance coverage.

Buying business insurance is one of the most important actions you’ll take as a business owner. After all, it protects you from paying expensive costs for accidents on or damage to your property. And the more you know about your coverage options, the better you can protect your small business. Our smart tips for buying business insurance will help you better understand what you need to best protect the dream you work hard for every day.

Research Your Small Business Coverage Options

When it comes to protecting your business, you have options. Be sure you research those options. If you have an idea of what you’re looking for, it’ll be much easier to find. Start by researching businesses like yours. What types of coverage do those businesses have? This will give you a better understanding of what your business may need for coverage.

Find the Right Coverage With the Right Agent

What are the benefits of working with an agent? They understand exactly what your business needs. Finding the right agent means they’ll know you and your business. When meeting with your agent, ask about their experience with businesses like yours. Make sure they understand your dreams, vision and needs. Make sure they’ll be there when you need them most. And most importantly, make sure you’re confident in their ability to provide the best solutions. You and your business deserve the best — that includes an agent you can trust and confide in.

With American Family, your agent will be there from the moment you select your coverage to helping you in your time of need. Find your agent today.

What Coverage Does Your Small Business Need?

The more you know about your business and the industry you’re in, the more ready you’ll be to find the right coverage. Be prepared for your first meeting with your agent by building a full list of company information. This list should include business type, industry insight, financial records, property info, number of employees, and potential risks and liabilities. An assessment of your risk and liabilities will be used to build your policy. So the more you know and share, the more accurate and effective your coverage will be.

Take a look at some coverages you’ll likely need as a small business owner:

Building coverage. If your space is damaged, property coverage works hard to help you regroup and restore. We’ll also help cover the loss of income and extra expenses you incur while repairs are being made.

Business personal property coverage. Makes sure the equipment that drives your business — computers, copiers, tools, etc. — is protected too.

Business liability protection. Accidents happen — even at work. Business liability protections protects you from any bodily injury, property damage and/or personal and advertising injury expenses that arise from your business operations.

Commercial liability umbrella policy. This policy adds another layer of protection to your primary business liability coverages by giving you extra security against legal and financial incidents that could jeopardize your business dream.

Get an Annual Insurance Review for Your Small Business

As your business grows, your insurance needs change. Annual insurance reviews help ensure you’ll always have the right coverage for your current situation. And by keeping a close eye on your evolving insurance needs, you’ll always be prepared for the unexpected and unplanned.

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Related Topics: Safe Business Tips , Business Insurance