Avoid These Commercial Insurance Risks

As a small business owner, you know that insurance isn’t a gamble. It’s something you must take seriously and consider wisely. Before you buy a policy, you want to make sure you have all your bases covered. To help protect your business and pocket, take a look at these commercial insurance gambles you don’t want to make.

Considering a one-size-fits-all liability policy.

Sure, some in-depth plans with multiple add-ons may not be ideal for your business, but a basic plan with limited coverage may not be right, either. A surprising number of businesses choose a policy that is not tailored to their needs, meaning that they may have alarming low liability coverage in place. A start-up business won’t have the same liability risks as an established small business. Make sure you get tailored coverage that suits your business’s needs.

Not reviewing your insurance coverage.

This is a particularly risky gamble, especially since so many businesses grow rapidly and exponentially. If you’re new to insurance, you may choose to stick with your policy for months or years on end, but that doesn’t mean that it remains tailored to your business. As your company grows and services change, your insurance will need to be altered, too.

Not having business interruption insurance.

All it takes is one disaster for businesses to close their doors for good. Business interruption insurance helps your business to get back on its feet after a disaster that knocks you down. The longer your business is closed, the more money you’re losing. This coverage is valuable but often overlooked.

Business owners can benefit greatly from reviewing their business insurance and making sure they have enough. The team at Kneller Agency is here to help with all of your business insurance needs. Contact us today! We serve Chatham, Copake, Valatie, Tilden Place, and neighboring cities of New York. 

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