Understand your business insurance by asking these questions.

Just because you are an expert when it comes to your business, does not mean that you are an expert when it comes to your company's insurance.  To ensure that you have the coverage you need, make sure you ask your insurance agent these questions. What types of insurance do small business owners need? General liability, commercial property, and workers' compensation are the most basic business insurance options.  However, your business will need more coverage than these base policies can offer.  Your coverage needs will differ depending on the type of business you operate.  Your business's location will also affect your coverage needs.  So, speak to a qualified agent to ensure that you have the comprehensive commercial coverage that your business 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 commercial insurance questions you should ask your agent.  Do you need help with your business insurance?  If so, then contact the experts at Weeks & Associates Insurance Services in Thousand Oaks, California, today.