Business insurance might not be the most fun topic in the world, but it’s a whole lot more fun that having a disaster wreck all of your hard work. Plus, as the insurance experts, we know there’s a little wow factor to commercial coverage. You just have to know where to look! Here are three surprising business insurance facts worth knowing.
Your coverage might include a lawyer. If you have certain types of liability insurance, it’s not unlikely that your policy will provide you with legal counsel. That means you won’t have to waste time and energy finding an attorney to defend you in court; one’s already built into your policy!
You can bundle it. You’re probably familiar with the concept of insurance bundling. In fact, you may already have a single insurer writing your home, auto, and other personal policies, cutting your overall insurance costs. But did you know you can do the same for your commercial coverage? If you own a small business, look into a business owner’s policy. This combines general liability and commercial property coverage into a single policy, helping you save money.
You should customize it. Your insurance agent offering you customized coverage isn’t just a perk; it’s a necessity. There are a plethora of different types of business insurance out there, and they’re all designed to cover different exposures. So while the basic workers’ comp, general liability, and commercial property coverage is a good starting place, it definitely shouldn’t be the only insurance you consider. Your business could be served by other, more specialized kinds of protection like cyber liability, errors & omissions, and directors & officers liability coverages.