When picking an insurance plan, doubts arise. Here is a list of the top 10 questions you should ask your agent before picking a plan to make sure you get the right coverage.
- What types of insurance are available to small business owners?
You should be informed of all the different insurance plans out in the market. Educate yourself on multiple companies, the coverages and even if they can create a special plan for you.
- What insurance should I consider and why?
Your agent will help you identify the right plan for you while making sure you don’t overspend and keep your business covered.
- What are the policy’s limits?
All insurance policies have limits. Making sure that the policies are enough coverage for your business is essential.
- How and when do I submit a claim?
If you have never submitted a claim before, you’re agent can be your guide to help you achieve the daunting process.
- What does this policy NOT cover?
While everything that the policy covers might be obvious, digging deep and finding what it doesn’t cover is just as important. For example, flooding is a separate policy. Ask everything about your policy so that you don’t run into trouble later.
- Are there any discounts?
Ask your agent if there are any current or future discounts. Saving money never hurts.
- What’s the cost of coverage?
Insurance consists of a premium and deductible. The premium is your annual cost of coverage, and the deductible is how much you need to pay out of pocket before your coverage kicks in. Financing this with your agent is very important to make sure the plan aligns with your business’s needs. Usually a lower premium results in a higher deductible, and vice versa.
- How do I protect my property?
Depending on where your property is, verify with your agent that the building and contents are protected.
- Can I get more coverage?
Ask your agents for possible gaps in the coverage. Become aware of any umbrella policies available and how they can benefit your business. Every business is different, but your agent can help you identify the coverage that best fits you.
- What are the payment options for coverage?
If you pay your coverage in full, you might qualify for a discount. Discuss with your agent the different options of paying insurance and what you can afford.
Contact Us Today for Assistance
If you have experienced an insurance loss from a hurricane, tropical storm or other major weather event, don’t be surprised if the insurance company’s first reaction is to claim that your damage is due to some pre-existing condition or assert that your claim is not covered under the terms of your policy or even cancel your policy based on recently-discovered “errors” in your application. But don’t worry.
Experienced and aggressive attorneys from ILG are on your side and will advocate on your behalf to see that you get the benefits you are entitled to. At ILG, we take the time to analyze and interpret your policy and understand the full measure of damages available to you. We work with construction experts, restoration professionals and others to determine the facts.
Don’t delay and contact us today for a free consultation in Florida. The Insurance Litigation Group will walk you through the terms of your insurance policy and help you recover the full extent of your covered losses.
