It’s important to assess and reassess your company’s insurance needs on a regular basis. Property-casualty coverage isn’t enough. Consider a broad range of coverage, from business interruption and consequent loss of revenue to product liability and wrongful termination. Before you settle on a policy, shop around. Ask several agents to evaluate your insurable risks and listen to their ideas.
Don’t buy on price alone. Check www.ambest.com or your library for the insurance provider’s standing with A.M. Best, a company that rates insurers. When you are expanding, ask your agent if you need an endorsement to your policy. Search the Internet for more small-business insurance information. A good place to start is www.iiaa.org, the site of the Independent Insurance Agents of America.