A North Bay Business Insurance Update
Buying business insurance is like investing in your business. While you may never have a claim, if you do the resources provided by your insurer can keep your business going. That is why it is important to have an agent who understands your needs and can help you design a business insurance program that fits your needs.
Where to Start?
Understand the difference between agents.
- Captive agents can only provide coverage through one insurer.
- Independent agents can offer many different coverage options through their many appointed insurers.
Understand the Value of Information
It is important that you provide as much information about your business as possible. Your agent can help you determine which information is needed to get the best possible pricing, coverage, and service.
Coverage Is King
Your agent will have a good idea of what you need after they review your risks. Here is an example of some of the coverage you may require.
Property Insurance: Covers your buildings, equipment, machines, and other property from loss or damage.
Commercial Liability Insurance: Provides coverage for bodily injury and property damage you cause to others.
Commercial Auto Insurance: Covers your company vehicles if they are involved in an accident. It can also cover your business if you or an employee uses a personally owned vehicle on behalf of the business.
Cyber Liability Insurance: This insurance can protect your business from a data breach. If your business stores sensitive or non-public information about employees or clients, you are responsible for protecting that information.
Management Liability Insurance: Management Liability can encompass three important business insurance coverage’s; Professional liability, Directors and Officers Liability, and Employment Practice Liability. These are excluded in most business insurance policies.
Our professionals work diligently to understand our client’s risks, goals, culture & vision in order to develop with you a risk management program to support your mission. Every industry has specific needs when it comes to insurance. Industry-specific risks make it impossible for insurance companies to lump together one insurance plan for every business. At North Bay Insurance Brokers, we understand that being unique is what makes your business successful across the board. That’s why we provide industry-specific insurance options for businesses of all types.