Dos and Don?ts for Business Insurance

with the equipment breakdown.

-General liability coverage with product liability insurance

-Commercial auto insurance

-Workers compensation insurance

-Professional liability insurance

3) Do keep your entire inventory in a safe place, off premises. Also try to include the photographs of your property and your inventory lists. These documentations help while you need to report a claim.

4) Do check the financial condition of the company before buying the business insurance policy. You should also keep in consideration, the insurer’s reputation and integrity. You should have the solid idea of the insurer’s historical background.

-Do protect your business with more than just liability insurance.

-Employment practices liability insurance

–Professional liability insurance

-Directors and officers liability insurance.

5) DO consider buying “Building Ordinance Coverage” if you are doing business in an older building.

The don’ts:

1) Don’t try to underinsure to get a reduced premium. You cannot skip this, as you have to pay later. A lower limit on your business insurance will give less financial protection when a loss occurs.

2) Don’t overlook the policy’s “exclusions.” It is just as important to know the coverage. Your business insurance