To ensure the security of your products, employees, and property, getting secured business insurance is a must. The question is, where do you start? If you lack knowledge of business insurance or what you should be looking for, here are some tips to guide you:
- Begin with Liability Insurance
Liability insurance covers product liability insurance, public liability insurance, and professional indemnity insurance. With this insurance, you have protection against claims that render your products faulty or unsafe. With this liability insurance, you get protection against third-party claims on loss or injury. For professional indemnity insurance, you have protection from claims of professional negligence.
- Ensure Worker’s Compensation Insurance
Worker’s compensation insurance gives coverage to an employer against compensation expenses caused by injury or loss of employee life. Some employers choose to cover medical costs from workplace injury too. Moreover, many employers increased future security by getting full life insurance policies, which payout to the employee's beneficiary in case of demise.
- Get Multiple Coverages at Once
Some business owners like to shop around and buy different insurance policies from various insurance providers. However, consider purchasing the insurances that you need under one provider, as this can significantly decrease insurance rates since you are buying in bundles. By purchasing in bulk, this implies that you are placing your business under a single insurance provider. With this, you can save more money and get a lower premium on each policy. Policy renewal will also be relatively more straightforward.
Some business owners might think that purchasing insurance policies are unnecessary when they are just starting. But it is important to note that having insurance policies can help your business save money for the future and give you security.
At Meyerson-Roth Co Inc, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (516) 432-5800 or Click Here to request a free quote.