It’s risky to be in business these days. Business owners face fierce competition, random economic swings and strict government regulations. Besides that, unexpected disasters can hit a potentially successful business. Take these examples: • Fire at a drycleaner. No insurance to pay for customer goods. • A roof collapse at a toy store one month before Christmas. No insurance to re-open. • Insurance on a fire-destroyed building. No insurance to cover pollution cleanup costs. That’s why loss prevention is a crucial part of insurance. Loss prevention means protecting your assets with practical safeguards. That could include: • better door locks • training employees on sexual harassment policies • construction of a fire- and earthquake-proof building. These and similar loss prevention activities can mean reduced insurance premiums for you. Establishing a close partnership with your insurance agent is the best way to ensure that you’re fully protected . Your agent can provide the best and most customized protection for disaster coverage. Know the insurance coverage options for your business. It takes time and premiums, but it’s worth the peace of mind—even if you never file a claim.
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