If you’re going to do business in North Carolina, chances are you need a comprehensive business insurance policy. Unfortunately, there are so many business policies to choose from, the process of selecting just the right coverage for your business can be difficult. Although you may be tempted to choose the cheapest business insurance policy, this might not be the best idea in the long run. Always remember, rock bottom pricing usually comes with rock bottom coverage and worse than rock bottom customer service.
When most people hear the term “business insurance” the first thing that probably comes to mind is simple property and liability protection. But a comprehensive business insurance policy can provide you with far more than just property and liability coverage. In addition to general liability policies, which are a must have for most businesses, you may also need to purchase Workers Compensation coverage and other specialized coverage types.
When selecting business insurance coverage, one of the primary factors in determining what type of policy you need will be your lease. If you operate your business from any rented space, the landlord or property management company has a big say in what sort of policy is required, as well as just how much coverage you will need. So before signing up for any old business insurance policy, be sure to go over your lease with a fine tooth comb. Some specific lease terms to pay attention to include:
- How much coverage do you need? Will a $500,000 policy cover the requirements of your lease, or do you need more protection?
- Does the lease mention specific items that must be covered? In some cases, your landlord may require additional plate glass coverage, for example.
- Don’t forget about equipment coverage. Whether the equipment is your own or it’s provided by your landlord, you may need a specialized insurance policy to cover potential damage.
- Who is on the hook in the event of a fire, hurricane related damage, or other calamitous event?
If you have questions about business insurance for your Raleigh-Durham business, give Amistad Insurance a call today. We provide comprehensive business insurance coverage, as well as staff retirement benefits, employee health plans, and more. Whether you are a small local business, retail store, or food service establishment, Amistad has a policy that’s right for you. Even home-based small businesses shouldn’t do business without insurance. Contact Amistad Insurance today to find the policy that’s right for your small business.