Business owners have insurance to protect their business and their assets; however, some do not have insurance or enough coverage. Being underinsured or uninsured are significant issues for many business owners. It’s crucial to avoid the most common small business insurance mistakes of being underinsured or uninsured.

According to a 2017 survey by Insureon, 75% of businesses are underinsured, and 40% of small businesses are uninsured. The survey also stated that the top 6 types of claims that small businesses face are client complaints or contract disputes, employee injury, burglary or theft, fire or storm damage, customer injury, and products that caused injury or damage. In most instances, all of the claims mentioned could be covered with a BOP, GL, WC, or E&O policy.  

Whether a business is mature or just starting out, it’s essential to ask: What coverage do I need? And the best place to find the answer is with a trusted insurance advisor who takes the time to understand the business and its risks and exposures before suggesting a policy. 

A representative from The DL Moore Agency can review your current policy and make recommendations where needed so you can run your business confidently. Learn more about The DL Moore Agency’s complete line of commercial insurance solutions or get a free quote today!