At Gill Insurance Agency, we provide insurance policies for many Plainfield, IN businesses. Unfortunately, however, many of our customers make the following coverage mistakes that impact their bottom line.
Mistake One – Picking the Cheapest Policy
When you’re covering your business, you shouldn’t skimp out on your insurance policy. Yes, it might save you $1,000 a year if you get a policy that is $100 less per month than a better coverage option. However, you might find yourself with lapses in your policy that cause serious financial troubles.
Mistake Two – Underinsuring Yourself
This mistake is often connected to the first but may be separate in some circumstances. For example, you might get a high-value policy to find that it isn’t suitable for your business needs. You may need to upgrade to a more comprehensive policy designed for larger companies like yours.
Mistake Three – Buying Too Much Insurance
While it might seem tempting to insure your company for more than it is worth, your policy will never pay more than that. So, if you get insurance for $1 million and your company is only worth $250,000, you might be surprised to find that you won’t get that $1 million.
Mistake Four – Not Understanding Your Insurance Options
Insurance companies often provide various commercial options that help cover you and ensure that you are safe. For example, a Business Owners Policy can cover things like your property, liability, and interruption coverage. That kind of protection is critical.
Speak With Your Agent Today
If you want commercial insurance from Gill Insurance Agency to protect your Plainfield, IN business, please don’t hesitate to contact us right away to learn more. Our team will help you better understand your policies and give you the insight that you need.