It’s easy to get dizzy going through the list of different types of commercial insurance available to businesses. From inland marine to cyber coverage, there are countless plans for various risks. So here’s a basic commercial insurance guide to help you protect your commercial property with the right insurance.
Commercial Property Insurance Basics
A common form of commercial insurance for entrepreneurs who own buildings is commercial property insurance. It covers the structure of the building along with its completed additions, indoor and outdoor fixtures, and permanently installed appliances.
Another component of commercial […]
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 […]
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 […]
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 […]