Mistakes to avoid while purchasing business insurance Mistakes to avoid while purchasing business insura | Page 3

Mistakes to Avoid While Purchasing
Business Insurance
Buying less coverage than you need
This situation will arise if your exposure to risks is less than required. In the
event of a loss, you may receive less money than the worth of your business
assets and this may prove detrimental to your business.
Buying the wrong business insurance
It is essential to read the fine print of an insurance contract and address all
queries with your insurance broker in Alberta to make sure that your business
risks are duly covered. If this is not done and you have got the wrong insurance,
then it can be catastrophic in the event of a loss.
Choosing low deductibles to save money
Business owners choose low deductibles to save themselves from high premiums
every month, but in this process they end up inflating their overall operating
costs and lose money when an accident occurs.