Commercial insurance Archives - Udell Family Insurance

How Commercial Property Insurance Protects Business Owners

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How Commercial Property Insurance Protects Business Owners

Many entrepreneurs get so excited about launching a startup that they don’t spend enough time figuring out the right type of business insurance coverage they need. Depending on the type of business you run, enrolling in a standard business policy won’t cover everything. If you own property as a business owner, here’s a look at how commercial property insurance can protect you.
What Is Commercial Property Insurance?
Commercial property insurance is designed to protect physical assets from natural disasters. It protects your building and its contents, along with exterior features. The policy will specify what […]

When Should You Examine Your Commercial Insurance?

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Review commercial insurance

The Insurance Information Institute (III) recommends reviewing all your insurance needs, including commercial insurance, at least once every year. This is important because it gives you a chance to insure your underinsured and uninsured property fully, avoid over-insurance, and even lower some insurance costs. Commercial insurance review is necessary, especially when your business has experienced significant changes such as increased or reduced costs, revenues, and risks.

Keeping this in mind, here are five instances when you should review your business insurance.

1. You’ve Implemented Risk Mitigation Strategies

If you have implemented the necessary risk mitigation strategies […]

Managing Risk Exposure for a Small Business

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How-to-Manage-Small-Business-Risks

Setting up a small business is as much of a task as it is to run it. Part of running a business means protecting it from common risks and managing exposures. It’s important to identify which risks pose a threat to your small business operations so that your company can adequately prepare.

Here are a few tips for managing the risks your business may face:

Set Business Plans

Even your day-to-day operations are susceptible to threats. First, you need to identify and eliminate potential risks before they escalate and cause extensive damage to your business […]

Business Insurance: Why Keeping It Makes Sense

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Business Insurance: Why Keeping It Makes Sense

If the COVID- 19 pandemic has severely impacted your business, you may consider cancelling your business insurance to cope with the expenses. However, business insurance provides you with a lot of benefits, whether your business is open or closed.

Cancelling your business insurance may seem to be a cost-effective option, but you need to understand the risks before moving ahead.

Risks of Cancelling Business Insurance

By cancelling your business insurance, you expose yourself to certain risks, which include:

Premium Losses

You will have some losses when you cancel your business insurance […]

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