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    0 Replies Latest reply on Feb 20, 2017 8:18 AM by moderator_mel

    How Much Property & Liability Insurance Does Your Company Need?

    moderator_mel Tracker

      When assessing your property and liability insurance needs, the goal is to have adequate coverage. In regards to property insurance, you should know the value of the property. This includes what you paid for the property and what it would cost to have the property replaced if it were damaged. If you plan to enter a contract with a lender for the property in question, be sure to find out how much insurance will be required to maintain the agreement.

       

      When choosing liability insurance, consider the skill of your employees. A business that employs highly skilled individuals as opposed to recent high school graduates will need more liability coverage. A sole proprietorship business will need more coverage than a corporation. Find out the legal minimums of coverage by contacting your agent or state insurance commissioner.

      I’m always interested in your questions and replies. ~Moderator Mel