It is a mistake to assume that something is included in your insurance
It is a mistake to assume that something is included in your insurance. Many small business owners assume that by purchasing a business insurance package, BOP, their business is 100% covered. Something that is not quite correct. Business owner insurance, known as BOP, generally groups two policies: liability insurance and property damage insurance. That is, they only cover those claims related to bodily injury -if a client slips- or property damage -fire, theft, vandalism-.
We know that it is very heavy to read the insurance documents. But if you’re a business owner, the stakes are high and you should understand the risks you’re taking. We recommend that you do not take anything for granted, analyze your own business, make a list of potential dangers and see if they are included in your policy. For example, ask yourself, are my workers, my cars, my mistakes covered? What happens if the store catches fire or is flooded? Do they compensate me if they close the street and I can’t continue operating the business? What if a hurricane damages my business or I discover a worker is stealing? What happens if one of the delivery cars has an accident or if I suffer a cyber-attack and they take over my database?
In short, it is not enough to purchase a BOP policy, you must know for sure what is covered and what is not. To, according to the characteristics of your business, purchase the necessary coverage to guarantee the safety of your enterprise. Just to cite a few examples, most BOPs exclude flood insurance, workers’ compensation insurance, commercial auto insurance. It is a mistake to assume that something is included in your insurance.
Therefore, read your policy carefully and consult with your trusted insurance agent. At Univista Insurance you can prepare insurance tailored to your business with the help of an experienced specialist.