Auto Business Insurance Derry NH
Protect Your Business with the Right Insurance
Starting a business is expensive and the capital that you've poured into your company can disappear in an instant if a major weather event damages your offices or one of your products injures someone.
Having the right kind of insurance is critical to your business and multiple insurance policies should be in place before you even open your doors for business. And, they should be reviewed every year or when a business change occurs such as stocking new products or moving to a new location.
Protecting Your Assets
Experts say don't leave your business' protection to chance. The key is to proactively manage the protection of your assets.
Do we have coverage for that loss? If you don’t already know the answer to this question, it’s too late. The key is proactively managing the protection of your assets: buildings, inventory, human resources through various means. It is crucial that you, the owner, be involved in the process of transferring risk by buying insurance or making sure contracts with vendors do not hold you liable for losses. You also need to have someone managing the loss prevention practices in your business. Lastly, know what losses you will be paying for yourself this is an exposure you won’t be able to transfer to another source.
Managing the “insurance buying process”
Set the “rules of the game”
Who and how many agents will be allowed to propose your insurance? Experts recommend a maximum of three.
When should the process begin? Experts suggest you begin 75 days prior to the expiration date of your current policy.
When will the decision be made and how? Experts recommend the decision be made at least 14 days prior to your expiration date.
They understand your business and have experience insuring businesses in your industry.
They have dealer-speciﬁ c coverage such as extended theft and statute title E&O.
They have claims service with business expertise to put you back in business ASAP.
They are ﬁ nancially strong and well managed. The AM Best rating is anexcellent guide.
What businesses do they presently insure? Review their list of customers.
Are they involved in your industry functions?
Are they someone you can work with and trust?
Do they have an individualized service strategy? Included in the strategy should be policy review, means and frequency of communications, loss prevention efforts and more.