Simple Questions to Help Assess Your Business Risk
Business Insurance Update
Business insurance is designed to protect your business operations from potential loss. However, in order to protect your business with the best combination of coverage, price, and service, you need to understand what business risks you have. Then we can design a business insurance program to meet your needs. If, and when, risk becomes reality, a well-prepared business insurance program can help mitigate the impact. Dollars lost, lost time, productivity, and the negative impact on customers can be minimized.
To complete a risk assessment, you need to understand what, in your business, might cause harm or loss to your business and other, and then decide whether you are doing enough to prevent that harm. Once you have decided that, you need to identify and priorities putting in place, appropriate and sensible control measures.
Here are a few questions that can help assess your business insurance needs. Remember these questions are only a start. Call us today for more information.
What are your top risks facing your building and operations?
Do you have a risk for flood or earthquake?
Do you have unique machinery or tools that require special insurance?
Are customers allowed on your premises? If so, what are the potential hazards?
What might happen if you had to shut down operations for 60 or 90 days?
Are you complying with all state and federal laws regarding your employees?
Do you have a comprehensive safety program?
Does the company have response plans for unlikely extreme events?
Do you have employees who travel out of the state?
Are agreements in place for key suppliers?
Determine Treatment Methods
It may be that the best treatment is found in business insurance. However, there may be other methods such as contractual transfer. We can help you through the process.
Commercial insurance is one of the most important products a new business needs. Our agency can help you review your risks and guide you through the process of securing the right combination of coverage and price.
Worthington Insurance specializes in competitive auto, home, contractor and business insurance as well as insurance in Philadelphia, Yardley, Morrisville, Langhorne, Newtown, Bensalem, Levittown, Bucks County and surrounding areas in Pennsylvania and New Jersey.