Beware of commercial insurance oversights that could interfere with business operations. Once you have reviewed the tips, contact one of our P3 Insurance Solutions agents for guidance with updating your commercial insurance policy.
Use Value
How you use machinery and other types of equipment could influence your coverage needs. If you fail to assess each item, you will be insured and could choose a lower coverage amount than you need.
One way to ensure adequate coverage is to consider the use value of your commercial essentials in advance. The items you rely upon daily should receive more coverage than those you use less frequently.
Placement Errors
Placing your commercial essentials could affect whether you must file an insurance claim. Failing to put your items in secure areas without exposure could lead to weather-related damage, vandalism, and theft.
It is a good idea to map out where you will place items before purchasing insurance. Once you have everything set up, you can relay the placement details for your business equipment when you are ready to update your commercial insurance policy.
Add-On Omissions
Your business may offer unique services that could benefit from having insurance add-ons included in your policy. If you don’t research add-ons, you could discover later that your failure to have a specialized type of insurance coverage is hurting your business.
Check out all the insurance products available to you as a business owner. This will prevent you from overlooking any necessary coverage types.
Contact P3 Insurance Solutions
Contact one of our Memphis, TN agents to discuss your commercial insurance needs when convenient.
