Business Owners: Here is an Important Tip Regarding your Liability Insurance Policy:

Did you recently receive a new business liability policy from your insurance agent? Most business-owners will only look at the price of the premiums and never look at the fine print. It is a common misconception that the only way to save money on an insurance policy is by getting the lowest premiums possible. But the real savings happen when you understand the policy well enough to point out flaws made by the insurance agent, which can save you thousands of dollars in the long run. By thoroughly reviewing certain areas of your business’ coverage, you will find yourself with the most efficient and most affordable liability insurance policy.
When reviewing your policy, check to see if the Description of Operations is listed correctly. Insurance agents commonly leave aspects of the business out of the contract by mistake. For example, if you own a restaurant with a dance floor, but the list of operations does not include the dance floor, your agent will have to add it to the policy without making your premiums higher since it was their mistake. However, if you don’t point out this flaw and someone injures themselves on the dance floor, you will be stuck paying out of pocket for the medical and legal bills.
Catching errors like this before it is too late will save you time, money, and frustration. So, when your business policy arrives in the mail, don’t simply put it away and never look at it again. By discovering needed changes in the policy, your agent will provide your business with a better, more affordable liability insurance policy.
If you have questions or want to learn more about saving money on your business policies, the Insurance Navy agents in Palos Hills are here to help! You can also find more information on our website at

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