Business owners need to do their research and make informed decisions when they purchase commercial insurance. At Goodman Insurance Inc., we offer commercial insurance coverage to business owners in Shelton, CT.
Here are four things to know when choosing a commercial insurance policy.
The amount of their policy deductible
Being aware of deductible amounts is vital because your company needs always to have enough liquid funds available to cover deductibles in case you need to file a claim.
It’s important to note that commercial insurance policies often have varying deductibles. Your deductibles could vary depending on whether they’re for commercial property, commercial auto, general business liability, or another type of coverage on your policy.
The risks faced by the insured company
Performing a risk assessment when you buy a policy is important. Risk assessments can help you determine coverage details for your company, such as how much coverage you need and what types of commercial insurance your policy should include.
The legal requirements that the insured company needs to meet
Companies are often required by law to carry certain types of insurance. For example, companies that use vehicles for business operations must have commercial auto insurance covering their vehicle fleet.
The term length of the commercial insurance policy
A commercial insurance policy is only good for a certain length of time. One year is a typical term length for a commercial insurance policy. After a year goes by, you’ll need to renew your policy so that you can continue to have coverage.
We’re here to assist you when you’re on the market for commercial insurance in Shelton, CT. Call us at Goodman Insurance Inc. to get a policy quote.