Corporate Insurance: Is your business fully covered?

business-ins-picWhen was the last time you evaluated your company’s business insurance coverage? Nothing is worse than a disaster occurring and then realizing you weren’t adequately covered. The US Department of Labor estimates that 40% of businesses never reopen after experiencing a disaster. 25% of surviving businesses will lose their market and shut down within two (2) years of a misfortune. Don’t wait for disaster to happen.

Clearly, proper business insurance is imperative. Here are some suggestions to safeguard your business:

Perform a Risk Assessment – An assessment will evaluate the risks and custom operational characteristics to help define the best insurance protection for your company

Evaluate Business Insurance Coverage – It is important to know how your insurance company will respond to a claim. Most exclusions are not discovered until a loss has occurred. Coverage gaps, underinsured and even over-insured issues exist if the policies were not reviewed entirely. If the policy isn’t written in your best interest it will not respond the way you need.

Consider Business Safety Programs – Safety and loss control can save your company a significant amount of money. Safety and loss control programs should be instituted with the big picture in mind and geared toward the protection of company assets and employees.

Compare policies and details – Business owners rely on their agents or brokers to present them with quotes that offer the best options. Getting multiple quotes from a variety of carriers will give you more choices.

These simple steps will help your company save money, possibly discover potential risks and confirm your business is adequately covered.

McLean Insurance is passionate about helping business owners grow and prosper. To learn about Corporate Insurance, please visit our website: http://www.mcleaninsurance.com/services/corporate-insurance/

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