Every industry poses – and every company faces – unique risks. It’s important to make sure that your business insurance takes these into account. The best way to do this is to do the research and work with an insurance professional who knows your industry and is willing to take the time to get to know your business. Then tailor a policy to meet your business’ risk management needs as completely and cost effectively as possible.
For some businesses, a business owner’s policy (BOP), which packages business property and liability insurance, may provide adequate coverage. But for a sizeable portion of the small business marketplace, a standard BOP should be just a starting point. Some insurance companies offer specialized packages customized for the insurance needs of certain types of businesses – along with optional coverages for specific types of risk.
Depending on your business’ operations and risk management needs, you may be able to secure specialized insurance coverage by adding riders to your existing BOP. Or you may be better served through a stand-alone policy that, point-by-point, focuses in on the coverages essential to protecting your business from specific liabilities and other operational hazards.
Working with underwriters and claims adjustors who have specialized experience in your industry can make all the difference. You’ll have the confidence that you’ve secured an effective risk management program at a fair price. And when claims arise, you’ll have someone in your corner who can advocate knowledgeably for your interests – and get results.