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What You Should Know About Insurance Coverage Limits

Most business owners know that they need insurance, which is why they secure a policy. Yet, all too often, they promptly forget about it or do not ensure that they have adequate limits in their coverage. Some categories of commercial insurance in Antioch, CA will have a maximum dollar limit that the insurer will pay a policyholder in case of damage or loss. Without understanding your policy limits, you could be doing a disservice to your business.

 

Commercial Insurance Limits

 

Your business insurance policies will have limits, which is the maximum amount of money an insurer will pay toward a covered claim. Although you may want the highest possible limit to protect your business, premiums will raise when you select higher limits. Limits often apply to different types of coverage within a policy, too. For example, a business owner may have a $2,500 limit for all the outdoor property they own with a $500 limit per single item.

 

Talk to your insurer about what limits are right for your business. All of this will depend on the type of business you have, the level of risk you anticipate, what you can afford to pay in premiums, and how much you can pay if your limits are exhausted by a single incident. High-risk environments and industries are generally suited to higher minimum liability insurance risks.

 

Understanding your business insurance coverage limits is essential to properly protect your finances and company. Ensure that you have secure insurance to protect your vehicle from accidents and damage. Talk to the team at Jack Stone Insurance Agency to get started on your reliable coverage.

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