Insurance Coverage Features

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Policies and coverage are important to ensure that the company is hedged against risks that may affect financial performance. The policies and coverage include:

General Liability Insurance

The policy offers security to employees, products and business services against risks and injuries. The policy will also ensure that risks to employees and products are covered to minimize loss.

Property Insurance

The policy and coverage give protection for office equipment, computers, inventories in case of fire, vandalism, theft and smoke damage. The policy also protects the company’s profits if the operations of the company are interrupted.

Business owner’s policy

The policy and coverage cover the owner’s risks. The policy and coverage also include business interruption insurance, property insurance, vehicle coverage, liability insurance and crime insurance.

Insurance mitigates the business risks to small businesses by spreading risks to the business that does it. This allows the company to give the cost of losses and risk the organization because the insurance company is responsible for paying the risk or loss incurred by the company. Know more about senior life insurance.

Also, insurance allows the small company to transfer loss to the insurance company hence mitigation of the risks in the organization. One of the limitations is that the small company finds it difficult to remit its premiums to the insurance company for the purpose of covering the risk. Another is the cost of mitigating risk is very high making the small company unable pay the cost.

Business interruption

This risk may be caused by fire and other unforeseen events which can make the company relocate or close. To mitigate this risk, the company should develop a recovery plan which includes insuring the company against business interruption.

Property loss

This risk should be mitigated because the company requires its property be protected from unexpected events. Check out the no exam life insurance.

Theft and pilferage

This risk makes the company lose its valuable resources thereby affecting the financial performance of the company.|

Workmen injury

The risk if not well mitigated will result in the company into high treatment costs which in turn may lead to low productivity in the organization.

Costs of policies annually

The annual cost of general liability is between $400 and $900. This implies that it is the amount that the insured should pay to the insurer to get the company covered from the risks. The annual cost of the property policy is $ 1,281 is the amount that the small business should pay to insure its property against the risks. Finally, the annual cost of the owner’s policy is $ 500. This amount is applicable for small and large companies, and it used to insure the owner against unforeseen events.

The policy of the source of property is a disaster that disrupts the operations of society which, in turn, can make the business out of its premises. The general liability policy, on the other hand, results from the increased unforeseen risks on the property and the owner of the business that negatively affect the financial performance of the company.

Business owner’s policy source is increased illegal issues in the company that makes the company to incurred losses. The policy can be obtained by completing the form indicating the items to be covered in the policy. Plan the point of service because the plan requires one to get a referral from the primary care physician to see the specialist. The yearly plan price is $ 1,500. For more info about insurance, visit http://en.wikipedia.org/wiki/Insurance.