5 Types of Insurances that Business Owners often Neglect

Thank you to Ademino & Associates, Inc for participating in Career Options “Make it Happen in 2017-2018” resource guide for area companies!

Please see below for their response to one of the questions we addressed:

Can you explain five types of insurances that business owners often neglect or don’t have enough coverage in?

 

Cyber Liability. Many insurance companies these days are offering some limited form of this coverage. It may or may not be the right coverage. Some policies only protect you and not your customers data.

 

Employee Dishonesty. This may not be a problem in a small, family type shop, but the larger the business gets, the more exposure there is. The age old question is why did Willie Sutton rob banks? Because that’s where the money is!

 

Pollution Liability. Does the business have any sort of off premises exposure that could cause harm to another in this regard?

 

Business Income. You would be amazed at how many businesses either don’t have this coverage or have atotally inadequate limit. They think they’ve done a good job by insuring their building and/or business personal property. But the Business Income coverage protects the business itself in the event of a loss.

 

This last one is really something. Hardly a week goes by in which we have the opportunity to work on a new client and we see that the named insured is incorrect. Either the right questions haven’t been asked along the way about who owns what and have there been any changes in ownership or structure. It would be a tough pill to swallow paying a premium and then having no coverage because the named insured was wrong.

 

For more information regarding these topics, please contact:

Established in 1929, Ademino & Associates provides insurance protection for the particular needs of the people of the Fox River Valley. As an independent insurance agency, our goal is to assist you in all your insurance needs. We will help you manage and plan for all your potential risks. As professionals, we assess your needs and offer you a variety of insurance products to choose from. Service, whether it is in response to an insurance claim or general question, is the most important value we offer you. We work hard to build a trusted relationship with our customers. We strive to make you feel both comfortable with and confident in our abilities by acting as your consultant. We want you to have the confidence in us that your parents may have had and that your children will have.

Ademino & Associates, Inc. – David M. Ademino, President

1001 Truman St. P.O. Box 99 | Kimberly, WI 54136

920-734-3110 ext 1113

dademino@ademino.com | www.ademino.com

Also, download the free mobile app for your Apple or Android device. It’s a great tool if you’re traveling outside our area.

 

 

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