Mistakes to avoid while purchasing business insurance Mistakes to avoid while purchasing business insura | Page 2

Mistakes to Avoid While Purchasing
Business Insurance
Having the right kind of business insurance provides peace of mind to business
owners. As oversight and errors can prove costly, it is essential to follow a check
list in order to avoid mistakes while purchasing business insurance in Alberta.
Below are some guidelines that are very helpful for business owners:
Improper assessment of business assets
A correct and proper valuation of assets needs to be done in order to assess their
true market value and book value. An incorrect valuation will mean either under
payment, or there will be issues when settling insurance claims.
Failure to compare competitive insurance quotes
Numerous insurance providers in and brokers in Alberta provide competitive
insurance quotes and you need to compare the different offers and assess their
pros and cons before choosing the one that suits your needs and your budget. It
helps to address your open questions with the insurance broker.