Top Commercial Insurance Questions to Ask Your Agent

Get the answers to these business insurance questions.

As a business owner, you want to protect your company and everything that it represents.  This is why it's so important to secure the right commercial insurance coverage.  However, if you are not super familiar with the commercial insurance market, then you may not know where to begin.  To help you make informed coverage decisions for your business, work with a trusted agent, and ask these questions.

• Do I have the right coverage?

Insurance requirements differ depending on the industry that you work in.  For instance, the coverage needed by a restaurant is wildly different from the insurance needed by a construction firm.  Your insurance provider should understand the specific coverage requirements for your industry.  They should also be familiar with the types of risks that your company faces and be able to create a multi-faceted insurance solution that addresses all your needs.

• Do I have enough coverage?

Truthfully, no business is ever fully covered against all the risks and perils that it faces.  The best that you can do is set your coverage limits high enough so that your business has a chance of recovering after a catastrophic disaster.  Taking steps like calculating your business's assets and totaling the cost of equipment, supplies, inventory, and other property can help you determine how much coverage you need to protect your business.  If you own the building that your company operates out of, then you should also account for the cost of completely rebuilding the property should it be destroyed in an accident.

• What are my coverage exclusions?

Before signing off on a commercial insurance policy, you need to know what types of perils are excluded from coverage.  Once you know about your policy exclusions, you need to consider how likely you are to face these risks.  If your business stands a good chance of encountering an excluded peril, then speak to your insurance provider and see if you can secure a policy endorsement or separate insurance policy to get the coverage that you need.

These are some of the important questions to ask about your commercial insurance.  Do you have additional questions?  If so, then contact the experts at Scavone Insurance Agency Center LLC in White Plains, New York.  We are ready to assist you with all your coverage needs today.