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Can’t-Miss Small Business Insurance Tips

Remember these important insurance tips for your small business.

If you are a small business owner, you know how important it is to keep your company safe.  The best way to protect your business is by having the proper business insurance coverages to meet your needs.  Does finding the right coverage seem expensive and daunting?  Then here are some tips to help you manage your commercial coverage.

  • Understand Your State’s Insurance Minimums

There are certain types of insurance that are state mandated.  For example, most states require business owners to carry workers compensation insurance, unemployment insurance, and state disability insurance.  To make sure that you are meeting your state’s minimums, check with your Department of Insurance and learn about your state’s insurance laws.

  • Think About Worst-Case Scenarios

With all the policy options out there, choosing the right insurance for your business can be an intimidating task.  Before you choose policies on a whim, think carefully about the risks that your business faces.  Go through the difference facets of your business, and identify all your vulnerabilities from employee injury to product liability issues.  Once you understand the threats your business faces, you can start looking for the right policies.

  • Consider Bundling Coverages

Buying various policies from different insurance providers is inefficient from a cost and time standpoint.  Instead, you should try to bundle your insurance policies under the same insurance provider.  Not only will bundling your coverage save you some money, but it will also make it much easier to manage your insurance.

Try out these suggestions to help you deal with your business insurance needs.  Do you still have questions regarding your commercial coverage?  Then don’t hesitate to contact us at Scautub Agency in Scotia, New York.  Our dedicated professionals are ready to assist you with all your insurance needs.

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