You have enough to fret about running your service without the included issues of your service insurance plan. Nevertheless, unless you are fortunate sufficient to have an individual or department to concentrate on insurance coverage, you do need to take note of this topic– and even if you do have personnel to assist you out, it is important that you understand the insurance coverage problems of your company.
Perhaps, among the larger mistakes business individuals can make is to not comprehend the risks of their own market, or turn their insurance blindly over to a broker who does not comprehend industry-specific requirements. For functions of this post, we will presume you comprehend the issues and are engaged with your insurance company.
With that in mind, here are three of the top errors with regard to service insurance coverage.
- Absence of Umbrella Coverage— Some companies prevent umbrella protection, believing it is too pricey. Nevertheless, just as with individual liability conc …
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