Business Insurance in Cape Coral
You should always protect your investments, and if you are an entrepreneur that’s what your business is. You may have spent your whole life building your business. If not your whole life, much of your time and money has gone into your company. Regardless of how your business operates or the way it is set up, you still have vulnerabilities that could come back to haunt you. Whether your business functions as a corporation, S-Corp, Partnership, sole-proprietor or some combination, one unfortunate incident can leave you and your “investment” in a bad way fast, if not sunk completely. Some companies are required to carry some form of business insurance by the state they operate in, however this is not true for every business out there.
If you don't have insurance on your business I have one question for you. If you would insure your home, your automobiles, your boats, why wouldn’t you insure your business? Most likely without your business there is no home or cars to insure…
Maybe for some insurance is too confusing, with so many options to choose from how do they know what they need to ensure their business is properly covered. I must agree with these people, insurance can be tricky. So how do you know that the policy you purchased to protect your business actually has you covered for what you think it does? Therefore, finding the right agent is so important! An experienced agent who specializes in protecting business like yours. With so many things that can go wrong in your business, you need to make sure selecting your agent isn’t one of them. So how do you know you have found the right agent, here are a couple things to look for:
- Find an agent you are comfortable with, and one that you trust. (read below why)
- Find an agent who specializes in business insurance, and is experienced doing so.
- Find an agent who has lots of options to choose from, this can lead you to finding your optimal coverage at the best rate.
What may be the most important part of purchasing coverage for your business is finding an agent you can talk to. This may sound like common sense but what I mean is someone who you feel comfortable communicating with, an agent you can fully explain how your business operates. No two businesses operate the same, even your top competitor down the road may run their operation slightly different than yours. There is no one size fits all policy when it comes to business insurance. This is why making sure your agent finds you the right policy and right coverage is all about communication. An agent who you feel comfortable communicating with can help you protect your investment, especially as it grows and evolves.
If you are planning on starting or a new business or may be in the process now, here is a really helpful link if you need help in properly starting a business in Florida.
Myflorida.com - Starting a Business In FL
As Your Business Grows!
A good business owner seeks out opportunities for growth, innovative ways to add income to their operations bottom line. For example, a cabinet installation company may extend its services into tile, or possibly full kitchen remodeling. This may be a great move as a business owner, however these are things that can sink your business if you aren’t communicating with your agent. This may not seem like a big deal to some, but without communicating changes and expansions to your business with your agent you may have just voided your business insurance coverage.
Keep in mind that as your business grows and evolves, so must your insurance policy. You can’t be afraid to pick up your phone and call your agent to discuss these changes as not doing so can set you up to be blindsided by an unforeseen incident that’s not covered by your policy. In many cases your business’s additional services may make a minor impact on your price. In some rarer cases I have witness ZERO impact on the premium, as the new service was deemed less risky by the company than the original services that business offered. However, even if it turns out to be a larger increase than you were expecting, keep in mind this in mind when it comes to insuring yourself properly.
“Insurance doesn’t seem as expensive when you need it”
If you have a claim that’s denied, you would happily pay that extra premium to add the correct coverage onto your policy after the fact. You should never find yourself in this situation. Keep in touch with your agent, and if you don't feel you can do this it's time to start shopping for a new agent right away!