Do you have enough insurance? Are you over insured?
Here are a few tips:
Assess your needs. Property. Inventory and Casualty coverage
is only the start. Think beyond this limitation. What about Business
Interruption coverage? When a storm shuts your business down, you still need to
keep the revenue flowing. Product
Liability coverage, particularly if it is your product? Are you covered for
employee related issues?
Check with a number of Insurance Agents and ask for a risk
evaluation. They can help you decide on the appropriate coverage.
Check on the viability of any potential insurance provider.
You want to be sure they will be around to help when needed. Ask others about
experiences. Check for ratings with A. M. Best, they rate insurers. And recheck
this periodically.
As your business grows, be sure to keep your insurance
coverage current.
Steve Koenig,
SCORE Counselor
Visit us at: www.scoresouthflorida.net
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