When you put your time, money, and hard work into running your own business, you want to ensure you protect it as best as you can. This means you need affordable insurance coverage that keeps your assets safe. Consider the following factors as you choose the right commercial property insurance Hialeah FL to meet your needs.
Consider Factors That May Change the Cost
The cost of your business insurance depends on the type of business you run, the shape the property is in, and where it is located. If your company has expensive equipment or machinery inside, works with materials that pose a fire risk, or are otherwise considered risky, expect to pay a higher insurance premium. Additionally, you may pay higher rates if your building is older or if it is located in a high-crime neighborhood.
Purchase Supplemental Insurance Policies
Commercial property insurance alone will not protect your entire business. Remember to consider which other types of policies you need and whether the insurance company you work with packages policies. In addition to property insurance, you’ll need general liability coverage and business income insurance. If you have employees or own company vehicles, you’ll also need to look into workers’ compensation coverage and commercial auto insurance.
Shop for the Right Provider
It’s important to shop for the right insurance provider before binding yourself to a policy. Look for an agency that is experienced at providing business insurance to companies in your specific industry. Consider whether it offers bundled coverage as a means to help you save money and whether the agency provides risk assessment or other bonuses. Finally, compare at least three agencies to ensure you’re getting the best price possible.
Always research an insurance agency before signing on the dotted line. Ensure you work with one that has experience in your industry, has a solid reputation with current and former clients, is licensed, and provides high-quality customer service.