Things to Look for in Your Business Insurance

Things to Look for in Your Business Insurance

 

Are you starting a business and thinking of getting insured? Or perhaps you’ve been operating for a while and just starting to consider getting insured or switching insurance? Whatever stage you may be in, we’d like to congratulate you for taking this step to securing your business with insurance. To help you find the best one for you, we’ve rounded up the things you should look for in a business insurance.

1) Law-compliant

There are types of insurance that are required by law for every business. For instance, Workers Compensation Insurance is the most prevalent type of mandatory insurance for employers. For most states, professional indemnity insurance is also required before registration for professionals who are offering paid counsel such as accountants, engineers, architects and more. Make sure that your provider offers these types of insurance and you get them.

2) Coverage for the most valuable items in your business

It's critical to cover your business's goods, tools, and equipment when purchasing insurance. There are also some types of insurance that are important depending on what business or field you are in.

For example, if you are moving goods via sea, rail or air, Marine Cargo Insurance is a must. This type of insurance protects your business from loss or damage to boats and cargo while in transit, whether by sea, rail, or air. Because of the complexities of these shipments, you'll need insurance that covers a wide range of scenarios. Meanwhile if you’re a home builder or a construction company, a Construction Insurance will keep you covered. This policy usually covers commercial, industrial and domestic builders, sub-contractors, owner-builders against construction related losses, including contractual liability cover and site damage or theft.

For more information on insurance products that can cover the most valuable things or people in your area of business, talk to a trusted broker.

3) A partner for business recovery

Anything can happen at any time. Make sure that you have business insurance that covers day-to-day operation risks. For example, SK Insure offers the Business Pack policy that protects your buildings, inventory, equipment, and brand. This is necessary to safeguard that your organization can recover from anything that may happen.

Know the value of your assets and make sure they’re all covered

The key to getting the right insurance for your business is knowing the value of all your assets. Then make every effort to cover them in your policy to ensure that you’re prepared and compensated no matter what happens.

Let us help you find the right insurance policy for your business

Our insurance brokers at SK Insure have a deep understanding of the Business Insurance market, offering long-standing relationships with leading insurance companies. Talk to us today via the different channels listed below.

Contact us today to get started.