Before you take out an insurance policy for
your business, take care of these things.
It is worthwhile asking your competitors
which insurance agency and broker they use. When you take out insurance
with someone, you want to be sure that they have experience in insuring people
in your field. They may even know better than you about the risks and challenges
your business faces. The last thing you want is to be paying your insurance
company for years and years and then encounter a disaster that you aren't
insured against.
Don't confuse risk management with
insurance, they aren't the same thing.
You can often include your own and your
workers' health insurance on your business insurance policy. This could save
you a lot of money.
Think very carefully about the risks
that your business faces and discuss them with other people in the company
before you take out insurance. Business interruption insurance, liability, and
equipment are all essential.
