1. Assess your risk and your needs. How much Property (Building and Contents) do you need? What Liability risks are you exposed to? Do you use Automobiles in your business? Are there special risks that are unique to your business?
2. Shop your business insurance requirements around. Look for an agent that writes a lot of business and commercial insurance. If you ask your agent what percent of his agency total
is represented by personal versus business insurance, you want to hear that at least 40% is business oriented.
3. See if a Business Owner’s Policy, commonly referred to as a BOP, is appropriate for your business. Many times the little extra coverage sections included in a BOP can protect exposures
that you might not otherwise protect or even think of.
4. Reassess your business insurance requirements on a regular schedule. At minimum, you should look over your coverage and your requirements annually. However, if anything changes in your business at any time, it would be a good idea to reassess at that time. It may be that higher levels of coverage are called for as a result of the change.
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Phone: (401) 421-0100 Fax: (401) 421-2376