Business Insurance Inclusions
Business Insurance
After your business insurance is written, you should expect from your insurance company some services and additional benefits.
After all, your business and your business insurance company have entered into a legal business contract- you are a team now.
Here is a short list of things that your commercial insurance company should offer.
Business Insurance Loss Control Survey
During the first year of coverage and every three to five years after, your insurance company should send a loss control specialist to your place of business. This loss control professional will make a report to your insurer, but you should not consider this to be an investigation of you by your insurer. It is in both your best interest and the interest of your business insurance insurer to identify and minimize potential losses.
Often a fresh and experienced set of eyes will identify potential problems in your operation that you may never have considered. Once these loss exposures are identified, you and the loss control specialist will work together to develop some actions that can be taken to manage these risks.
Areas where the loss control survey will address are fire safety, employee safety, public safety, auto and fleet maintenance and safety, emergency protocols, and crime prevention.
Education and Training Geared Toward Your Industry
Often these educational materials come in flyers, risk management newsletters, and DIY driver awareness materials. But, depending on your industry and if your insurer specialized in writing insurance for your industry, there may be workshops or conferences offered for the business managers or employees.
These educational materials are significant value added services provided to your business. You should make every effort to take advantage of them to demonstrate to your managers and employees that you take risk management and loss control very seriously.
Property Survey and Valuation
It is often difficult to assess the true replacement cost value of business property, especially in commercial building insurance. Your insurance company should send an experienced property evaluator to your site to assist you in determining the replacement cost of your building, improvements and trade fixtures, and equipment.
Ask your agent about small business disability insurance, ask yourself, what would happen if you got hurt even paralyzed for a period of months or years.
Partner With Business Insurance Agent
Your commercial insurance company is your partner in your risk management process. They have valuable resources available which can be of great benefit to your business. Contact your agent or business insurance company to find out what resources are available to you.
