Beware of Incomplete Business Insurance Policies

You wouldn’t buy half a pair of shoes would you? Ever go shopping for three quarters of a shirt? Of course not. But amazingly, many business owners
buy incomplete business insurance. A typical business policy will cover loss to a building and contents–that’s great. Savvy business owners even make sure that their policy will cover lost income while they are out of business during the rebuilding process. But even the sharpest business owner may not realize that this level of protection is still incomplete.

While standard business insurance policies have improved drastically over the last decade they can still miss the critical coverages needed for your business. That’s where an insurance review with a business insurance professional can really pay off. When we sit down with businesses that deal in perishable stock like florists or restaurants, for instance, we often find that the “loss of income” coverage in their standard, “off the shelf” business policy is only triggered by fires or natural disasters. Loss of income from a refrigerator failure or a power outage is not covered. That is a glaring oversight that can easily be corrected by having a knowledgeable agent set up your coverage.  At Sullivan Insurance we realize that every business is unique so we encourage business owners to let us tailor a policy to suit their needs. In the insurance world buying off the rack is rarely cheaper and in the long run, can be far more expensive when claims are not covered. If you are worried you may have left some important coverages in the cart the last time you went insurance shopping now is the time to schedule a free review.  We can help you find the complete insurance ensemble and make sure it fits your business perfectly!

About the Author:
Grant Sullivan has spent more than 15 years making insurance simple for families and small businesses in and around Lima. he holds a B.A. and CIC designation from the Society of Certified Insurance Counselors and has published numerous insurance articles and training pieces.