Learn 5 Questions to Ask Your Agent When Buying Business Insurance

Workers’ Compensation: 


Employer’s liability insurance covers medical expenses and indemnifies employers for claims of injury or death resulting from work-related accidents. 

Business Auto: 

Small businesses with only one vehicle need a commercial auto policy because it has more comprehensive coverage than personal auto coverage. 

Business Umbrella/Excess Liability: 


A secondary layer of protection, also called excess liability insurance, can give your business an added liability protection layer over and above what your underlying policies provide up to the limit of this policy. Businesses that face a high risk of lawsuits, such as those in the restaurant and daycare industries, would do well to consider this coverage as part of their comprehensive insurance package.

How Much Coverage Do I Have?

Business owners often assume they have enough insurance to protect their business, only to find out after a claim that there wasn’t enough coverage. So, business owners need to inventory what’s covered and how much before an emergency strikes.

In addition to reviewing your commercial package policy for the proper limits, be sure to ask your agent about current policy limits, such as those for building valuations and liability. If you haven’t recently inspected these areas of coverage on the small business insurance checklist with them or reviewed it since moving into a new location, then now may be an excellent time to do so. 

If you are insuring leased or inventory property, bring a current list so there are no questions about your current coverage needs. If your business has grown, make sure you are protected by lifting any limits on liability and umbrella policies.

Should I Increase My Deductibles? 

You might be amazed to learn that the lower your insurance premium, the higher it can be. Your agent should explain different limits, help you decide on a deductible for yourself, and help you to decide which deductible is suitable for you.