You can also get just liability coverage!
You can have Replacement Cost coverage on your tools. You can get coverage for your employees’ items, like jackets or tools.
Do you know what installation insurance is? If you do any installation or renovation work, you may require this!
Insurance companies appreciate risk mitigation efforts. For example:
If you hire someone with a poor driving record, your commercial auto policy may be surcharged. They will always require that you keep the area around your furnace or boiler clean and free of debris. If safety courses are an option in your industry (for example, serving courses in food or beverage establishments or training certifications for personal trainers), insurers may request that information.
Did you know: Much of the premium calculation for your liability is based off of your gross receipts? It’s handy to know this information for the last fiscal year up front. If you’re just starting out, you may need to provide an estimate for your first year.
Did you know: you can get coverage to replace your data, like your accounting records?
Cyber insurance is becoming increasingly more important. If you have ANY private data on your clients like birthdates, credit cards, or addresses, it’s a good idea to look at this coverage.
If you are renting your location, you can get tenants’ legal liability. This covers you if you accidentally damage the property.
Did you know: you’re responsible for employees driving your company vehicles. This means even if they are off on a ‘frolick of their own’ which means not company business! You need to have auto paks on any vehicles used for company business.