When applying for commercial insurance, you have to assess your potential risks to find out how much insurance you need. If you sell beautiful but expensive and fragile decorative glass, you may need quite a bit of insurance. If you sell dairy products that could melt or spoil one hour into a power outage, you may need a good deal of insurance. If you sell embroidered pillowcases, you might not need very much as they never spoil, aren’t particularly fragile, and tend to not be very expensive.
If you do a lot of your business online, you’ll need a very specific type of insurance. If you have a construction company, you have employees who put themselves in dangerous situations and will need insurance for them. The thing to remember is getting insurance before you need it.
How to Assess Your Business
First, define your business and identify the risks. Next, sit down with a certified advisor and discuss your concerns so they can walk you through what you need to do. Resist the urge to put price over reliability and always remember to read the fine print. As time goes on, make it a habit to reassess your business quarterly.
A change in business can mean a change in liabilities and thus a change in your insurance. For example, once you’ve built up enough capital, you can buy display cases for your most expensive, fragile, or frequently shoplifted wares.
Mutual Insurance Partners Follansbee, WV
If you are in need of commercial insurance and live or work in the Follansbee, WV area, please contact Mutual Insurance Partners. We will do all we can to get what you need.
