You need to invest in commercial insurance to protect your livelihood. Unfortunately, many business owners experience devastating consequences because they failed to invest in commercial insurance and unexpected expenses came up.
At Sound Choice Insurance Agency Inc, we provide commercial insurance in Lynnwood, WA. The following are three mistakes you need to avoid when you buy commercial insurance in Washington.
Failing to read the fine print on your policy
You should definitely set time aside to read through your policy details. This way, you’ll understand what you’re eligible to file a claim for. Unfortunately, some business owners aren’t aware of everything their policy covers and therefore don’t file a claim when they are eligible to do so.
Not purchasing coverage for possible revenue losses
One type of commercial insurance available covers revenue loss from various events. This is a very important type of insurance to invest in.
You never know when an accident or setback can come up that significantly reduces your income under the expected level. That’s why it’s so important to invest in the business interruption or business income coverage.
Keeping the exact same policy despite significant changes at your company
Business owners should periodically reevaluate their business insurance needs. As your company grows, you need to reconsider what your financial risks are. You’re probably going to face more risks and need more commercial coverage as your business expands.
Every time your policy terms comes to an end, set some time aside to reevaluate insurance needs. Invest in more coverage as necessary to ensure continued success.
Get started finding the right commercial insurance solution with our help at Sound Choice Insurance Agency Inc. Contact us today to insure your Lynnwood, WA business.