What to Prepare When Getting Your First Business Insurance

​A lot of time starting our mid-20s will be spent on paperwork like getting a VISA or starting a business. In case you start a business, you need insurance just like your home needs one, too. 

Business insurance will protect you from losses that are borne out of the regular work of your business. Anything could happen to your business like a natural disaster or a dissatisfied customer suing, so any business owner should have one. Here is a general outline of what you will be doing in getting your first business insurance:

1. Risk assessment
   Basically, you should predict what types of losses your business will incur. If you are near a beach, then a tsunami might happen. If you are in the service industry, then a client or customer may sue you.
   
   Then you will choose what type of business insurance to get depending on your business. There is general liability, professional liability, product liability, commercial property insurance, and others that might fit your needs. 
   
   
2. Find an authorized insurance agent
   It might be from a friend’s referral or an advertisement you saw online, finding the right agent is crucial in getting the best insurance coverages. Of course, your agent needs to come from a legitimate insurance company. 
   
   Always remember that not every agent is the same. Some will treat you as a client, and some will give you more than you paid for through personal advice in getting and handling insurance. 
   
   
3. Pick the best insurance deal
   You may need every insurance coverage there is, but getting everything will be expensive. Some insurance coverage has an area of overlap, and some insurance is too specific. 
   
   Also, you should not depend on your agent but do your own research and ask fellow business owners what they have, what they removed, and what they added eventually.
   
   
4. Re-asses annually
   Fortunately, your business has grown, and you are dealing with more risks every day. Every year, think of what insurance policy to get based on your current and future scenario. 
   
   Lastly, most insurance policies last more than a single year, so you cannot just remove a plan when you decide it. 

At Keith Sanders Insurance Group, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (254) 235-8185 or Click Here to request a free quote.