Eleven Business Insurance Tips For Business Owners – Guidance From A Certified Professional Public Adjuster

Eleven Business Insurance Tips For Business Owners – Guidance From A Certified Professional Public Adjuster

ELEVEN Business Insurance Tips for Business Owners

by Ron Reitz, CEO of Quality Claims Management Corporation

Do you know what your business insurance policy really covers?

 Many business owners buy a basic business insurance policy because they need one for their business operations. Maybe their lease requires it or their accountant told them it was a good idea. Or maybe it was just a check off box on the process to getting your business up and running, a necessity towards getting a loan to expand or to buy new equipment.

 However, I have found that most business owners – especially small to middle size businesses – do not really understand their coverage or what is protected. It might have been sufficient for when you first started but does it now cover your increased sales traffic, your new equipment and inventory? Does it cover loss of business income?

 Waiting for a disaster to happen is too late. As public adjusters we come in after a loss occurs and try to negotiate a settlement between the insurance carrier and the business owner. By that time it is too late to determine if you have adequate coverage or not. Not only are many business owners not aware of what their insurance policy really covers, many are also woefully under insured.

 You need to take a few hours to go over your business insurance policy with your insurance agent to make sure you understand the limits of your coverage (BEFORE you