Saturday, March 1, 2014

Recipe For Trouble - Insurance

Most of us would not dispute the fact that we need insurance. Most of us take great care to insure our car, our homes, and ourselves. However, if you have a business, your insurance needs can be complex. In addition, your insurance needs may involve you personally as well as your business.

A full service insurance agent can be one of the greatest assets in your company. Full service agents can help you determine not only what type and how much insurance you need, but they can also help you assess your risks. This is especially true if you have arrangements with other organizations, expensive equipment, various types of employee/employer relationships (i.e., contractors), rental or lease agreements and numerous other situations than can arise in a business.

Your insurance agent is an important part of your business so shop around. Find an agent that you are comfortable with. Make sure they are associated with an agency that has the expertise to understand your particular type of business. Make sure the agency is also able to provide the various types of coverage you need. The agent should ask a lot of questions about your business and perhaps even make a visit to your company.

Keeping your insurance agent informed of various changes in your business may be one of the most important things you can do. If you are considering changes, talking to your agent can be helpful as well since they can often think of risks or issues that you may not be aware of. The best part is that most insurance agents will be able to provide many of these services for free. 

Covering the various parts of your business with one agency can also save you lots of money. There are often significant discounts for multi-line coverage. This is true whether it is your home and your business. Insurance agents can also help tailor your coverage to fit your financial needs. Having various policies here and there can make it difficult for an insurance agent to get the full picture and may result in gaps in your coverage.

When and if there is a problem, it will be much easier for your insurance agent to help you if he or she is aware of all the aspects of your business. It is also helpful if that agent is local. After all, they have as much invested in the community as you do. They want you to say in business and stay protected. Make your insurance agent an active part of your business. Don't waste this potentially very valuable asset.








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