fbpx Skip to content

Common Mistakes Buying Small Business Insurance

There are several things to consider when beginning a small business. One of the most important is your insurance options and choosing a policy immediately. Most business owners are concerned with saving money and not creating too many overhead costs to begin with. In some industries, this can work, but for most, insurance is an absolute necessity from the start. This can be an overwhelming process, especially when you are considering what industry you are working within and the regulations that must be followed. This article will focus mainly on what common mistakes small business owners make when purchasing and researching insurance policies.

The Starting Point

One of the biggest concerns for small businesses is getting coverage that is cost-effective. Unfortunately, it is a lot easier these days to purchase an insurance policy online without having to do much research. The best way to find a policy is through Insuravita. We are able to provide you information about the best policies that provide cost-effective and accurate coverage for your small business. Make sure that you utilize our articles and expertise to effectively choose your policy type. It is even easier to get a quote at Insuravita.com. This will allow you to find the best policy for you and your specific needs.

Liability Insurance

If your business has an LLC, Inc. or Corp. attached, it is best to purchase a policy incorporating liability coverage or even a separate liability policy. This will stop any possible lawsuits or legal issues with your company and save you money in the long run. A smart way to do this is by joining an insurance group for professionals in the trade. Another common mistake that a lot of small business owners make when first starting out is relying on their home policy to cover their business needs. Most commonly, small business operations start with a home office and therefore register their home as their place of business. This requires two different policies to make sure you are covered for multiple accidents. In case someone comes by the home in relation to the business and happens to have an accident, the business would not be liable.

Life Insurance

Another mistake to avoid is choosing a policy without putting in enough research. Make sure that you take the time and compare quotes, or use a tool like Insuravita to compare your options for you. Another big mistake when owning a small business is not purchasing life insurance along with business insurance. When you own a small business you are the most important person to the success of the business. Purchasing a life insurance policy is even easier with Insuravita, and the most responsible thing to do as a business owner.

The Takeaway

Lastly, make sure that you have loss of income coverage. Often times, small business owners fail to purchase these policies thinking that it won’t ever happen. There could be a period of time where your business is not bringing in any money and this type of insurance would help you maintain your income. Follow these suggestions and use Insuravita to make sure you have all the information you need to purchase the best small business insurance policy for you.

Auto Listings
Motorcycle Listings
Life Listings
Health Listings
Home Listings
Small Business Listings

1 Comment

  1. Everette Losito on February 22, 2019 at 5:08 pm

    After study a few of the weblog posts in your web site now, and I really like your method of blogging. I bookmarked it to my bookmark web site checklist and will probably be checking back soon. Pls check out my site as well and let me know what you think.

Leave a Comment





This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECENT POSTS

Guide to Open Enrollment: Making Sure You Are Insured for Next Year

December 3, 2019

‘Tis the season! That doesn’t just apply to the holidays, but also to health insurance. You have probably heard the phrase “open enrollment” tossed around either on the news or…

Read More

Life Insurance Needs Assessment: Top 5 Reasons You Need Life Insurance

November 24, 2019

We are all guilty of procrastinating every now and then. Especially when it comes to the somewhat morbid topic of life insurance. We all know that our death is an…

Read More

Health Risks and Insurance Costs of Vaping: Is It Really “Cool to Vape”?

November 14, 2019

For decades, smoking has been advertised as cool, sexy, and trendy. With the invention of the e-cigarette, tobacco companies did not stray from their tried and true marketing strategy. Plus,…

Read More

Evaporated into Thin Air: Unseen Effects of Vaping on Health Insurance

October 31, 2019

Among many of the world’s new inventions, e-cigarettes have become a new craze. A recent article from Reuters reported that roughly 1 in 20 Americans are currently vaping or using…

Read More

Save on Car Insurance: Top 5 Ways to Secure a Cost-Effective Auto Policy

October 17, 2019

We are all trying to save more money, but sometimes there don’t seem to be any areas to cut back. One avenue to explore is ways to save on car…

Read More

All Risk Home Insurance Coverage: It’s a Risky Business to Go Without

October 15, 2019

We have all heard the horror stories about people not buying specific insurance coverage and then losing their homes to a tragedy. After an earthquake in California, our neighborhood chat…

Read More

Gap Coverage 101: What You Need to Know About Health Insurance

August 22, 2019

Mind the Gap There are several situations in life that cause people to either change their health insurance, end their health insurance, or have a gap in coverage. I recently…

Read More

Motorcycle Insurance 101: First Time Riders

August 13, 2019

The Cool Commuter When you think of motorcycles, a few things come to mind. Typically, they are thoughts related to the Sons of Anarchy. However, there are actually a lot…

Read More
Scroll To Top
%d bloggers like this: