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If a fire damaged your business would you want to know that you had the cheapest insurance or the correct insurance? |
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I recently worked with a client who had not seen her insurance agent, not ever! When he started his business he called an agent that had a nice advertisement. The agent took down some information and sold him a policy without ever seeing the business.
Five years later this business had the same policy—but the business had grown a lot. Five years earlier the business only had about $25,000 of property to cover—five years later they needed $100,000 to fully cover the property.
If this business had burned down the owner would have collected only $25,000, the amount of the original insurance. The effort that had gone into building the business would have gone up in flames without enough insurance to replace the property.
There was little difference in premium to get the proper amount of coverage.
If a fire damaged your business would you want to know that you had the cheapest insurance or the correct insurance? |