What Should a Small Business Owner's Insurance Policy Cover?

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Any good small business insurance policy should cover at the very least a few specific areas. Find out what a small business owner's insurance policy should cover with help from a public insurance adjuster in this free video clip.

Part of the Video Series: Home & Business Insurance
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Video Transcript

Hi, and welcome. I'm Dan Odess. I'm a public insurance adjuster, and I'm here to talk to you about what a small business owner's insurance policy should cover. It's a very long and difficult topic but some of the key points are to making sure that you've done an adequate risk evaluation to ensure that you have proper coverage. What is a risk evaluation you ask yourself? It's not the underwriting that your insurance company does while placing your insurance or while you're going out for proposal by your agents or your brokers, it's you going back and looking and walking and understanding your lease agreement, making sure that you are abiding by the lease agreement and that your business personal property is adequately covered by having accurate records and receipts and invoices for all your computers, your desks, your chairs, any of your own personal effects that you've added to that property whether it's through improvements or betterments to the actual property itself and also the deductible taking into account that that is the amount of money that you're probably going to go out of pocket above and beyond how much you recover from the insurance company. So making sure you have adequate coverage will minimize the amount that you go out of pocket. So making sure you have got proper coverage is in effect a lot on your shoulders as that small business owner. So take the time, sit down with your agents or your brokers or find an expert in your field who handles insurance claims such as an insurance public adjuster to work with you to make sure that you properly assess the total amount and value of all things that need to be insured. If you do those things, you'll be properly covered. Thanks for tuning in. This is Dan for eHow.


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