10 Tips on Buying Small Business Insurance

10 Tips on Buying Small Business Insurance

Small businesses need dedication and vision. And as protection they need comprehensive insurance to protect themselves from disasters, illnesses, disability and loss of property and goods among many others.

Every small business owner needs a business owner’s policy cover. This kind of policy is designed to protect every kind of risk possible: property insurance, liability insurance, business income, machinery insurance, human failure, employee protection and management protection, and more.

There are many options and the choices can be mind boggling. Here are a few tips for buying small business insurance coverage:

1. Surf the internet and download a “business owner’s insurance check list.” This will form the basis of your effort to get small business insurance cover.

2. Make the effort to do a comprehensive search for the many options available both online and offline. Or ask your insurance agent to create a docket of options.

3. Understand what your business will need and seek coverage accordingly. An ideal source for insurance coverage is trade associations and business groups; they often have tie-ups with insurance companies for coverage at reduce premium rates.

4. Check the website of the Institute for Business and Home Safety for recommendations: www.ibhs.org and the Small Business Administration: www.sba.gov.

5. Ask