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To be successful, business owners should be sure that they secure the proper insurance coverage for their specific industry needs. There are so many different types of coverage for all kinds of businesses that it can be challenging to know where you should start and what questions you should ask.

The reliable and knowledgeable insurance agents at Phillip Kent Beck Agency in Archdale and High Point, NC have the three most important topics you should cover when choosing your small business insurance.

Crucial Questions About Business Insurance

What Coverage Do I Need?

insuranceThere is insurance coverage for every type of risk your business may face. But regardless of your industry or the size of your company, the one type of insurance every business owner needs is general liability insurance. This kind of coverage protects you from accidents, injuries, and claims of negligence. It will also cover expenses related to settlements, litigation, and, in the case of being sued, court judgments.

How Exactly Does This Cover Me?

General liability insurance does cover multiple risks, but it most likely won’t be the only coverage you need. Because your needs will be specific to your business, your insurance agent may suggest multiple types of policies to help ensure full protection. Some of the policies they recommend may include product liability insurance, professional liability insurance, commercial property insurance, and home-based business insurance.

How Much Will My Policy Cover?

 For general liability insurance, there are two limits on the total amount your policy can pay out. The aggregate limit is the maximum amount your policy will pay for all claims in a single year, and the occurrence limit is the amount your policy will pay for a single claim. Your small business insurance agent can help you decide which limits fit your needs, based on your industry, business size, and claims history.

Choosing the right insurance for your business can be an overwhelming task, but you don’t have to do it alone. As a Nationwide agency, the Phillip Kent Beck Agency is proud to provide you with the highest-quality insurance products from one of the nation's leading carriers. To learn more about their products, or to request a quote, visit their website or call (336) 434-2111 today.

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