Step 19: Identify Insurance Issues
The Concept:
You need to be adequately insured to protect your business and yourself.
What you need to know:
Although the expense of having adequate insurance adds to the cost of doing business, it's worth the money and peace of mind. Insurance policies are available to cover virtually everything connected with your business, including you and your employees. An insurance professional can advise and guide you in planning for all of your insurance needs. You may need insurance to cover many of the following:
• Liability Insurance
• Product Liability Insurance
• Business Interruption Insurance
• Disability Insurance
• Property Insurance
• Business Vehicle Insurance
• Equipment/Inventory Insurance
• Employee Health Insurance
• Key Employee Insurance
• Bonding
Points to consider:
Can your insurance professional offer you a discount on an entire package of insurance?
Have you shopped around for more than one insurance quote?
How often are premiums paid?
Who will be responsible for making sure premiums are paid?
What is the procedure for making claims?
If you or an employee were injured, or if you sustain property damage, would you be able to stay in business? |
