Small business owners can make mistakes when taking out an insurance policy. Here are some small business insurance tips to avoid these mistakes:
1. A very common problem with small businesses is that they do not purchase all necessary types of insurance (e.g. they might have a good errors and omissions policy, but not a premises liability policy).
2. Another serious mistake is failing to include business interruption coverage from a cyber policy. Remember, business interruption is a critical element of proper cyber protection.
3. Many small business owners overlook the need for umbrella liability coverage, which extends the liability limits for commercial automobile, product liability and premises liability exposures.
4. Some small business owners fail to discuss health insurance options early on. The sooner you meet with someone to evaluate your current policy, the better.
5. Online sales help boost many small businesses’ revenue. However, defective products can lead to expensive lawsuits. Make sure you have the right insurance for online sales.
Read More Here: https://fitsmallbusiness.com/small-business-insurance-mistakes/
