Operating your own business can be the fulfillment of a lifelong goal for many people, but it also might come with a number of challenges that you may not have been anticipating. You might have a talent or passion for a particular field, but translating that passion to a smooth operation might require some adjusting.
One of the adjustments you should be sure to make is to educate yourself on as many parts of your operation as possible. At its core, your business insurance policy is designed to minimize your liability and offer you protections, so asking some of the questions below can help you get a better handle on that process and feel confident that you're sufficiently protected.
Ask About Injury Liability
If your business carries a decent amount of injury risk, it's important that you can guarantee that you have superior coverage for both clients and employees. However, even industries that may not typically be associated with physical risk may still carry a degree of concern that you should be prepared to handle.
Make sure to talk to your broker about your liability for all types of injuries, including repetitive stress injuries. Having a comprehensive policy can help guarantee that you're never caught off guard by claims, and can put you in a position to fully secure your assets.
Ask About Bundling
Balancing a variety of policies across multiple carriers can be a real source of stress. Keeping up with the bills is challenging enough, but when a situation arises that may involve multiple types of coverage, having your insurance decentralized can put you at a major disadvantage.
Most insurance companies offer a variety of benefits if you decide to bundle your coverage and seek it all from one location. If you haven't taken this step, discussing it with your business insurance agent can be an important part of a conversation that can have a surprising upside.
Ask About Communication
If you're forced to file a claim against your business insurance, it's easy to fall into a pattern of concern that might leave you frustrated by a perceived lack of responsiveness. In reality, the sheer volume of claims filed on a given day can make it difficult for any individual claim to process quickly, but too many people internalize that challenge. Rather than allowing your frustration to mount, talk to your insurance agent about the best way to stay in the loop and work toward an amicable resolution.