According to a recent survey by Hiscox, 10 percent of small companies are involved in a lawsuit with negative consequences. If you rely on your insurance to cover this risk, you need to know where you face getting sued and what your policy covers in case you do. Your insurance agent is a resource that provides education about small business insurance in Virginia so that you can make good decisions about which coverage manages your liabilities most effectively.
Most businesses operate within a tight budget. Your insurance agent can help you stay within your budget while protecting what you’ve worked so hard to build. Use the resources they have to be proactive and avoid lawsuits before they happen. Much as with any purchased item, cheaper isn’t always better. Your agent can help you compare different policies to find the one that gives you peace of mind.
Ask your agent who manages your small business insurance in Virginia to help you understand potential threats. Insurance isn’t just about fixing a problem after it happens, it’s about preventing the need for insurance. You can’t avoid every accident in your business, which is why you maintain your policy. However, you can do what you can to keep some accidents from happening. Work with your insurance agent to get educated not just about insurance but about pitfalls that threaten your livelihood.