Ask these questions to understand your business insurance better.
While you may be an expert in your business, this does not mean that you are an expert when it comes to your company’s insurance. This is why it’s so important to work with an experienced agent that you can trust. If you need help making sense of your commercial coverage, then here are some of the questions that you should ask your agent.
- What types of insurance do small business owners need?
General liability, commercial property, and workers compensation are the most basic business insurance options. However, your business will need more coverage than these base policies can offer. Your coverage needs will differ depending on the type of business you operate. Your business’s location will also affect your coverage needs. So, speak to a qualified agent to ensure that you have the comprehensive commercial coverage that your business needs.
- What do my policies cover?
Once your agent helps you create a custom insurance solution for your business, you need to understand your coverage. Make sure you know your various coverage limits and covered perils. This way, you know what your insurance will cover in the event of an emergency.
- Which policy exclusions should I know about?
Every commercial insurance policy comes with coverage exclusions. To ensure that a policy exclusion doesn’t take you by surprise, it’s important to ask about everything that your policies do not cover. If you need protection for something that your existing policies do not cover, then you need to speak to your insurance agent about supplemental coverage options.
These are some of the business insurance questions that you should ask your insurance agent. Do you have additional questions about your coverage? If so, then contact the experts at Phocus Insurance in Phoenix, Arizona. Our dedicated team is eager to assist you with all your insurance needs today.
