Business Insurance Coverage

By Guest Writer DJ Colter

When something unexpected happens.

Is my business properly insured? Am overinsured or underinsured? Is professional/products liability covered with my policy? As a business owner, can ever get discounts on my premium for preventative things can do? What does my liability protection really cover, even if am a Inc. or LLC? What if an employee runs an errand for our business, how is that covered in regards to auto insurance? Is my business personal property covered by replacement cost or actual cash value?

Are my computer/electronic data processing, valuable papers, accounts receivable, records, etc. covered if lost for some reason?

I could go on forever as this is the reason why Ignus, Inc. and their Ultimate IT service can be such a key tool for business owners in the event of a disaster to their business.

As a fellow business owner, many of these questions have come across my mind. It's scary the amount of businesses who come into my office for me to review their insurance with their current company/agency, and don't really know what coverages they have! You pay a lot in premium to not know what is covered. If your policy language is "too confusing and written in Arabic to me" as have heard many times, have your agent take the time to go over it in detail and explain in "laymen's terms". Every business is so unique in the coverages they need, so might not know every answer, but all it takes is a call/email to my underwriter to get the answer. As an agent, always want to pay our claims in the event of a covered loss. I want to sleep at night and not worry if my insureds are properly covered. If you still aren't happy after you review with your agent, there are insurance professionals out there that will take the time to help!

The DJ Colter Agency is located at 415 38th St. S. Suite #D in Fargo and can be reached at 235.6641 or on the web at www.djcolter.com

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