Combining policies: A comprehensive solution to your insurance needs

The same way that "two heads are better than one," sometimes small to medium-sized business owners require more than one type of insurance policy. As these companies are often in niche markets, it is critical for organization leaders to find the best coverage plans.

No two businesses are identical, which is why working with commercial insurance specialists is a wise move for many owners. That way, the right policies can be found that will ensure that a company is covered for everything from normal, day-to-day operations to severe weather that might be location-specific.

For example, the West Coast of the United States is subject to weather patterns that are quite different from the East Coast. As a Bonney Lake and Sumner Courier-Herald article explained, the Pacific Northwest can fall prey to earthquakes, wildfires or even floods. That is why the Washington Military Department's Emergency Management Division (EMD) is trying to create easy ways for small to medium-sized businesses prepare for whatever might come their way.

Karl Newman, NW Insurance Council president, told the news source that there are a variety of potential natural disasters in the Northwest.

"Fortunately, there are resources to help you get ready now before it's too late," he said. "From insurance to structural evaluations to evacuation plans and disaster kits, these tools will help you get ready and stay ready."

According to the EMD, 40 percent of small businesses that close due to a natural disaster never reopen. No owner wants to become part of that statistic, which is why a business owner's policy (BOP) that includes property insurance and liability protection should be considered, the news source said. Additional coverages might be necessary, but a company leader cannot assume that they are protected.

 

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