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. 

3 Tips for Buying Commercial Insurance in Florida

Do you own a business in Miami, FL or around the state?

If so, you need commercial insurance. Why? To protect your business, inventory, reputation, employees, vehicles, and more. Whether you’re looking for a new policy or upgrading an existing one, the team at B & G Insurance has put together three quick tips for finding the right commercial policy at the right price.

1. Compare Several Insurance Quotes

Working with an insurance agent, compare several quotes before making a decision. You’ll need to go over the fine detail to compare coverage vs. cost. Take your time, come up with a list of questions, and then address these concerns with your insurance agent. 

2. Bundle Your Insurance Policies with one Company

Next, bundle your commercial policy with all your other insurance policies, including auto, home, life, umbrella, boat, and more to save money on your premiums. This is an easy way to save money on your commercial insurance policy. 

3. Work with a Reputable Insurance Agent

To find the right commercial insurance policy for your particular business, work with a reputable agent. They will know which policies cover what you’re looking for. Whether you own a hair salon, a retail store, or a landscaping company, a trusted agent will save you time by quickly locating several policies for you to compare.

To learn more about purchasing commercial insurance, contact the team at B & G Insurance in Miami, FL. We can be reached by phone or send us an email to schedule an appointment. Commercial insurance is a must to protect your livelihood from theft, damage, fire, and other unforeseen events. 

Managing Commercial Insurance Across International Businesses

At B & G Insurance, we have worked with many international businesses in Miami, FL, and the surrounding area. Each of these companies works with multiple satellite offices around the world and has unique commercial insurance needs. If this sounds like you, it is essential to understand how your commercial insurance demands change depending on your business reach.

International Law Can Complicate Your Insurance Needs

Operating in multiple countries, especially overseas, can complicate your insurance needs in multiple ways. First of all, many insurance laws in different countries vary wildly from American laws. For example, some may demand higher coverage than is typical in America.

If your business operates in these countries, you need to make sure that your policies meet their legal needs. Trying to navigate these waters with multiple policies can be a major pain. Thankfully, it can be avoided if you invest in international commercial insurance for your needs.

Thankfully, International Commercial Insurance Can Help

International commercial insurance works by providing coverage that meets the needs of every country in which you operate. For example, it will carefully balance the demands of each country’s laws in a way that makes sense and which ensures that you aren’t breaking any legal precedence.

Just as importantly, this type of insurance will cover issues that occur on your many operational sites. For example, if an employee in a European country gets injured, your liability coverage will pay for their treatment and ensure that you don’t suffer from a lawsuit.

So if you operate an international business or plan on expanding, you need to contact us at B & G Insurance to learn more about international commercial insurance. We have helped hundreds of Miami, FL area businesses get the coverage that they need to avoid serious problems.