Three mistakes to avoid when you buy commercial insurance in Florida

As a business owner in Miami, FL, you need to make sure that you purchase adequate insurance coverage for your company. At B & G Insurance, we can assist you in exploring commercial insurance options to protect your company financially.

The following are three mistakes to avoid when you buy commercial insurance in Florida.

Failing to perform a risk assessment before purchasing a policy

A risk assessment is one of the most important things you need to do to understand your commercial insurance needs. A risk assessment will help you to identify potential liabilities. You can use this information to pinpoint which types of coverage you need. 

Buying the policy with the least expensive premiums

When it comes to any type of insurance policy, you get what you pay for. You need to evaluate your options carefully based on many factors. You definitely don’t want to be making any decisions based on price alone. 

In addition to considering the price of various policies, you also should consider what coverage policies include and what additional types of services and features the policy in question offers. 

Not reevaluating your commercial insurance needs periodically

A company’s commercial insurance needs will change over time. As your company grows, you’ll probably need more coverage. You’ll also potentially need more coverage if your company branches out into new products or services.

It’s a good idea to reevaluate your commercial insurance needs on an annual basis and make alterations to your policy as necessary. 

Do you need more information on your commercial insurance options in Miami, FL? We’re here to help at B & G Insurance. Get in touch with us to learn more about our commercial insurance policy options.