Are There Gaps in Your Business Coverage?

By: J.R. Orenstein State Farm® agent ----- Tel: (866) FOR-COVERAGE ---- Web: www.JRorenstein.com www.Shop4Insurance.net ----------------------------------------------------- There are many types of insurance to cover your small business, From property insurance on your building or contents to coverage for your business vehicles, there is a policy to meet most of your needs. While these policies on their own may provide enough coverage, you may be unaware of gaps. Most insurance policies place limits on the amount of coverage provided for certain items as well as the types of losses that are covered. These gaps could be significant depending on your situation. Fortunately, insurance companies may offer endorsements that are added to policies and extend coverage to a type of loss or increase the amount of coverage available. For example, if your standard policy limits coverage for an outdoor sign at $500, an endorsement can be added if the cost of your sign exceeds that limit. Coverage may also be extended to include the personal property of others, normally excluded in the policy language. This could be a much needed option for repair businesses or dry cleaners. It is important that you look at the coverages provided by your business policy to determine if they are adequate for your needs. Your business insurance agent should be able to explain the limitations and what options could be added to increase coverage. You may want to start by making a list of questions applicable to your particular business. You have worked hard to make your business a success. You owe it to yourself to have adequate coverage in place to protect what you have built.