Insurance for Your Business – Falcon Insurance San Antonio

Operating a small business properly is a must to be profitable. Protecting your business is crucial as well if you want to truly succeed in your endeavor. One significant way to protect your business is to obtain Small Business Insurance. Whether you are a restaurant owner, a jeweler, or a shoe repairer, Small Business Insurance will ensure that you and your business are covered against damages and unfortunate incidences. To help you in ensuring that your Small Business Insurance is appropriate for you, here are top 3 tips you may want to adapt. More information on this website

Tip #1 – Evaluate the needs of your business

This is a crucial tip because you will never get the correct insurance for your business if you don’t evaluate what you need to operate your business properly. How many employees do you have? How much is your business worth? Does your business expose your employees to the risk of injury?

Tip #2 – Read carefully the details of the Small Business Insurance

Sometimes there are exclusions in insurance coverage, so you have to read the details of the policy. You have to know what is specifically covered and what is not. Present questions to the insurer to clarify any doubt before you sign up. You can take out any of these types depending upon your need:

Professional Indemnity Insurance

This is an insurance that covers cases where you may be sued because of your business or professional services. It covers attorney’s fees, court fees and other legal fees that are related to it.

Public and Product Liability

This is an insurance that covers cases when your business causes damage or personal injury. It covers also legal fees if the injured party sues you in relation to your business.

Personal accident and illness

This type of insurance covers the loss of income in your business due to personal accident or illness.

Business Interruption

This covers payment of utilities, taxes and other specified fees when your business is temporarily not operating because of a disaster.

Workers’ Compensation

This type of insurance covers your employees from injury related to your business.

Equipment Breakdown

This covers the cost of replacing or repairing your business equipment when needed. Read the exclusions of the insurance though to know what machines are included and what are not.

Fraud and dishonesty

This covers loss caused by fraud or dishonesty of your employees. You have to specify what items are involved in this coverage. The loss may involve cash or goods.

There are still many types of insurance coverage that you may want to include in your Small Business Insurance. You have to obtain an insurance that is tailored to your needs.

Tip #3 – Compare benefits and prices before selecting your insurance.

Before selecting your insurance, compare prices and benefits. Look at the advantages that each company provides. Do not grab the cheapest insurance because it may not sufficiently cover your business. Choose the company that offers the most competitive price and the most reliable service and benefits. Find some information here