Business owners face many risks in the course of doing business. Proper planning and daily monitoring can help business owners manage environmental risks such as changing economic conditions and fluctuating markets. Situational risks require a different approach. Protection against risks such as fire, theft, or injury requires an investment in commercial insurance.
Commercial insurance, with its many products and options, can be confusing to purchase. An option to help you is a commercial insurance broker. These brokers work with you to define insurance needs, balance those needs against your budget and shop for policies that meet your requirements. Additionally, a commercial insurance broker can help file claims and perform periodic reviews to make sure your commercial insurance policies continue to meet your needs.
Take the time to read and understand policy provisions before committing to a commercial insurance policy. Important considerations include the premiums, deductible amounts, and policy exclusions. Insurance premiums depend in part on the risk your business poses to the insurance company. Taking steps to reduce your risk level can result in lower premiums. Deductible amounts significantly affect the cost of insurance. Determine the right deductible for you by weighing the cost savings seen in a higher deductible with the increased amount you will pay if you file a claim. Also, make sure you understand what the policy does, and does not, cover. Policy exclusions are a way for insurance companies to save money and encourage you to purchase additional, specialized insurance. Exclusions can include items, situations, and events.
At Cecil A. Ross Investment and Insurance Group, we offer a team of highly qualified professionals that will focus on becoming your partner in building the future you desire. We will thoroughly explain the insurance strategies and recommendations so you will be fully comfortable with all aspects of your program. Every decision we make will be focused on achieving the results you want.
Property & Casualty Insurance is not affiliated with Raymond James