Running a business involves a lot of different tasks, from marketing your products or services to working with your customers and more in Norman, Edmond, Oklahoma City, Moore, and the surrounding areas. One area that is often overlooked or neglected is the commercial insurance needs that your business has. At the Ford Insurance Agency we can help you to avoid some common mistakes that businesses can make regarding their commercial insurance needs. We will take the time to make sure that you understand all of your insurance policies and that you have the right coverage options. Contact us today to review your current commercial insurance needs.
Common Insurance Mistakes to Avoid
Perhaps one of the more common mistakes that many businesses make is going with the cheapest insurance option. Often they will simply take the first quote provided to them, thinking that it is enough coverage only to find out at the worst possible time that they don’t have enough coverage for an incident and they need to come up with additional money. Another common mistake that we see is that businesses do not update their insurance company as the business changes. Whether it is the addition of new equipment, bringing on new employees, or any number of other changes, it is important to let your insurance company know so that you aren’t left underinsured.
We all want to avoid risk when we can, but there is a point where you can be too cautious. Insurance can be the same way where you can actually be paying for insurance that you don’t need. It pays to meet up with our team regularly to review what coverage you have and to have us shop the market for you to find you better coverage for less money.
Insurance Coupled with Risk Management Strategies
Insurance is definitely important, but they can become even better when you combine them with risk management strategies for your business. Some might be obvious while others make sense when you hear them. Security cameras, for example, are one of the obvious options that can help to enhance your insurance by having good evidence when things happen. Training programs are another risk management strategy that helps everyone stay up to date as well as reducing injuries, helping with things like workers compensation insurance.
Commercial insurance is not a set-it-and-forget-it product; instead it is important to review your insurance periodically to make sure that it is still the right insurance for your needs, or if you need to get better or different insurance in Norman, Edmond, Oklahoma City, Moore, and the surrounding areas. Contact our team at Ford Insurance Agency to schedule that review of your commercial insurance and don’t find yourself underinsured or not insured at all.
