Call Us (215) 757-7979 ☰ ˟
Logo A Division of Ward Insurance Associates, Inc
Instant Quote
  • Home
  • Get A Quote
    • Automobile
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
    • Cyber Liability Insurance
    • Homeowners
    • Recreational Vehicle
    • Renters
    • Workers Compensation
  • Blog
  • Resources
    • Refer a Friend
    • Important Links
    • Insurance Glossary
  • About Us
    • Our Locations
    • Privacy Policy
  • Contact
    • Contact Us
Icon Home Icon Auto
Icon Renters
Icon Recreational
Icon Business Icon Worker's Comp
Home > Blog > 5 Insurance Mistakes Small Business Owners Should Avoid
MONDAY, OCTOBER 11, 2021

5 Insurance Mistakes Small Business Owners Should Avoid

You’ve already spent lots of time and energy on growing your business. So, it makes sense that you want to protect your hard work with a great business insurance policy.  

But before you start spending money on a new insurance policy, you need to do lots of research. It can save you from making any expensive mistakes. 

5 Business Insurance Mistakes to Avoid 

1. Relying on Your Homeowner’s Policy 

If you run a home business, you may think that your homeowners' policy will protect your assets. But, that's not necessarily true. Some home policies don't cover home businesses.  

Whether you have equipment in the house or meet clients at home, check out different business insurance options. Make sure each and every asset has protection. 

2. Skipping Business Interruption Coverage 

Many think property insurance is all you need to protect the brick and mortar of your business. Indeed, this coverage can protect you from hazards like fire, storms or even theft.  

However, a hazard might cause you to shut down your business, thus leading to loss of income. Business interruption coverage is one way make sure you can meet operating costs if you have to shut down the business for a while. 

3. Saying “No” to Life Insurance 

It's true that most small business owners are their business. If something bad happens to you, will your business survive? If your business will struggle after you die, life insurance could help protect your surviving assets. 

4. No Disability Coverage 

Disability is the number one reason that Americans can’t work and lose their savings. Don't get caught without the right level of insurance protection when you need it the most. Whether you have one employee or 50, disability coverage can protect your business and employees. 

5. Paying Too Much 

When you start shopping for business insurance, it's always a good idea to compare the available policies. Your agent can often compare the policy options that different insurers offer. This could help save money on your policy. 

Are you worried that you're paying too much for insurance? Whether you've added new employees or you're opening a new location, it may be a good idea to check your policy. Make sure you aren’t paying too much for coverage, but also make sure you have the right coverage levels. 

We've got you covered. Policy Goat  can help you get a business policy that effectively covers your needs. Call us at (215) 638-1525 for more information.
Posted 2:07 PM

Tags: business, insurance, bop, business, owners, policy, commercial
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2022
  • 2021

  • insurance(6)
  • coverage(5)
  • policy(4)
  • homeowners(2)
  • auto(2)
  • car(2)
  • business(2)
  • renters insurance(2)
  • commercial(1)
  • owners(1)
  • motorcycle(1)
  • auto insurance(1)
  • water(1)
  • security(1)
  • bop(1)
  • business insurance(1)
  • damage(1)
  • home insurance(1)
  • accident(1)
  • motorcycle insurance(1)

View Mobile Version
Insure your needs today!
Social
Quick Links
Home
Get A Quote
Customer Service
Payment Options
Report a Claim
About Us
Our Carriers
Partners
Blog
Contact Us
Location 1870 Veterans Hwy.
Levittown, PA 19056

P: (215) 757- 7979
E: info@policygoat.com
Powered by Insurance Website Builder