What Type of Business Insurance Do You Need?
Business owners may not understand the importance of business insurance, and may not have the time or understanding to ensure they have the best protection based on their needs and risks. If you have been searching ” Business Insurance Arnold MO ” look no further! MJM Insurance® will review your policy and make recommendations based off your needs. If you’re business owner, and not sure what kinds of coverage you need to protect your company assets, contact MJM Insurance® – we can help!
Regardless of your situation, you’re on the right track in your quest to compare business insurance and protect all of your assets. One of the best ways to get the coverage you need is to work with an independent agent at MJM Insurance®. We have several offices that serve the Arnold Missouri area. Our agents work with multiple insurance companies that specialize in commercial insurance, which means you can get every aspect of your business insurance coverage handled through one professional, and gain an understanding of your needs.
So, what types of business insurance do you need? The most common types of business insurance coverages include general liability insurance, commercial property insurance, commercial automobile insurance and workers compensation insurance.
Your specific situation might also require that you purchase additional coverage to meet your business risks. The additional coverage types you may need will depend on the nature of the work you do and include professional liability insurance, product liability insurance, business income insurance, cyber liability insurance and business interruption coverage to name a few.
What Is the Best Business Policy for Your Company?
The first step is to assess your risks by doing an analysis of your business and then review your current commercial insurance prices and policies. Your specific needs will be based on your company’s size, type and value, as well as the type of work you do. For example, does your company provide internet services? Does your company deliver goods or services in their personal vehicles? Do you serve food or alcohol? Do you offer professional advice that could result in a liability claim? Do you have a building or other property that could be at risk for fire or severe weather damage?
Identifying your risks and the coverages needed will help determine which insurance company will meet your insurance needs for the best value.
MJM Insurance® will review policies and options and compare insurance prices from several different insurance providers. The following are a few things we will consider to provide you complete protection:
- Will the liability coverage limits provided adequately protect your business assets?
- Does the policy offer adequate risks coverage areas for your business activities?
- Are the premium rates competitive within the business insurance market?
- Is the coverage deductible appropriate for what you can afford to pay in the event of a claim?
- Does the insurer have a strong financial standing and few customer complaints?
No two insurance companies are the same, and when you compare business insurance you’ll quickly find that no two policies are the same either. You may find you need a little assistance when evaluating insurance companies and plans to ensure you purchase coverage that is customized to your business.
Business Insurance Arnold MO: The Business Owners Policy
A business owner policy (BOP) is often the most convenient way of protecting your business’s physical and financial assets The BOP combines building, personal property and liability insurance coverage into one package. The BOP is an efficient way to provide Missouri commercial insurance coverage that most small businesses need.
Does your business qualify for a BOP
The two keys to BOP eligibility are type of business and square footage. General examples:
- apartment buildings
- office buildings
- buildings used primarily for mercantile, service or processing purposes
- mixed use, e.g., stores in an apartment building.
Business Insurance Arnold MO: The Commercial Package Policy (CPP)
The Missouri commercial Insurance Package Policy can be issued to include almost any type of coverage offered, from property and liability, to auto, crime, inland marine and professional liability and more. When your business risks goes beyond the coverages in a BOP, the flexibility offered by a Packaged Policy provides the opportunity to design a policy specifically to fit the needs of your business. It also enables you to have all or almost all of your insurance coverage in one convenient package.
Most commercial insurance policies offer expanded coverage endorsements. These endorsements provide additional coverages or increase your current coverages for lower premiums than purchasing each coverage separately. After assessing your business risks and determining that a package policy is what you need, we will design a custom insurance package policy with specific coverages to meet your business needs.
Use MJM Insurance® to assist your in your search for ” Business Insurance Arnold MO .”
It can be time-consuming to compare the commercial insurance products of several different companies, and this is how we can help you! Our expert agents can find the best business coverage at an affordable premium rate.
Working with an MJM Insurance® agent means you can leave the price comparison shopping to us! We represents multiple high-quality Missouri Insurance Companies like Travelers, Safeco, EMC, Kemper Preferred, Progressive, The Hartford, West Bend, Chubb and dozens more. We will provide a number of business insurance policy options to you and make sure you understand every aspect of your coverage. You’ll benefit from our agent’s knowledge and guidance while still serving as the final decision-maker.