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HOW TO CHOOSE PROFESSIONAL ADVISERS FOR A NEW VENTURE Part 4: Insurance Agents

insurance
insurance
Insureance

Most entrepreneurs overlook the value of a relationship with a competent insurance agent, but a growing venture will require several types of insurance:

  • Property
  • Medical
  • Errors and Omissions
  • Life (on key managers)
  • Workers’ Compensation
  • Directors and Officers
  • Unemployment
  • Auto (on the firm’s vehicles)
  • Liability (product and personal)
  • Bonding

Major insurance firms often can handle all types of insurance vehicles, but specialists will be required for certain kinds of protection, such as bonding (which is common in the construction industry to protect against a contractor’s not completing a project), product liability insurance, and errors and omissions (which protects the business against liability from unintentional mistakes in advertising).

 

The new venture’s insurance needs will change over its life, and a good insurance agent will help the entrepreneur determine the needed coverage at the appropriate times.

Bernard TaiwoBernard Taiwo
Bernard Taiwo
I am Management strategist, Editor and Publisher.

One thought on “HOW TO CHOOSE PROFESSIONAL ADVISERS FOR A NEW VENTURE Part 4: Insurance Agents

  1. Thanks for the concepts you have contributed here. Additionally, I believe there are many factors which really keep your insurance premium all the way down. One is, to consider buying vehicles that are in the good list of car insurance companies. Cars which can be expensive will be more at risk of being snatched. Aside from that insurance coverage is also good value of your car or truck, so the higher priced it is, then higher the actual premium you have to pay.

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