Here’s what you need to know about buying business insurance.
Buying the right business insurance should be an important component of a successful business plan and will help to protect your investment and you! Business insurance , referred to as a BOP (Business Operations Policy) provides the insurance coverage that could be required to keep your business safe from physical damage and professional liability risks. Check out these tips to help you select the right business insurance for your specific needs.
Know Your Risks
Since you’re the expert in your industry, when considering the type of insurance coverage you’ll need for your business it’s important that you identify any specific risks unique to your business. You’ll want to discuss these risks/concerns with an insurance professional to determine which type of policy would provide the best coverage for your company’s needs.
Use an Independent Agent
Insurance can be confusing to say the least, and a bit overwhelming, especially when it comes to business insurance. We recommend finding an insurance agent you feel is knowledgeable, professional and experienced to guide you through the process and provide you with good advice. Independent agents typically represent more than one insurance carrier so they can provide you with options – options in pricing, types of coverage, handling of claims, service, etc. They can help you select a policy and carrier that will best serve your company’s needs and give you the peace of mind of knowing that you and your company are well protected.
Don’t Rush Into a Purchase – Compare and Contrast
When your embark on looking for business insurance your should take your time. It is an important component of setting up any business. You want yourself, partners if any and your business to be protected as you go grow. Before you decide on an insurance policy, you’ll want to do some research of both insurance agencies and the types of coverage you might need. Compare and contrast coverages, deductibles, premiums, coverage limits, claim handling, professional/financial rating of the insurers. By taking a look at some optional policies and carriers you’ll not only better understand why business insurance is important but also be able to select best coverage for your particular business needs and protection.
When it comes to buying business insurance or you just have questions, feel free to contact us at Randy Jones Insurance Services in Pleasanton, California. We’re experienced, knowledgeable and professional agents who will help you find the right insurance policy for your needs.