Having the right insurance is critical to your business’s survival and well-being. Liability insurance for an organization, its employees, and other parties involved helps to protect the business from potential financial risk and catastrophic losses.


Key Types of Business Coverage


What Are Deductibles?

Deductibles are the amount for which you are self-insured and help keep premiums low. The higher the deductible you select to pay for your business insurance, the lower your annual insurance payments will be. When selecting your premium level, however, it is important to consider the deducible for each option; the money you are spending on that premium by increasing the deductible may or may not be worth it.


Policy Limits

There are 3 factors to consider when it comes to determining which policy is right for you business:

  1. The value of your property. For example, if all possessions were ruined due to water damage, what would it cost to replace them?
  2. Your potential liability exposure. In the event of lawsuits and other litigation disputes, insurance is critical, paying for legal fees and the damages if you are found to be liable for an individual’s injuries and/or damaged property.
  3. Past Losses. Use your past claims and history as a guide when ​​comparing quotes for different policy limit options.


Interested in finding out more about business insurance? Contact Shaw Sabey today to find the perfect coverage at the right premiums!