The type of insurance you get for your business is a big deal. When you think about the different policies, companies and coverage, sometimes it can get hard to make the right decision. Luckily for you, in International Container Insurance we´ve got your back! We have 5 great tips that you should consider before getting insurance.
- What do you want to insure? Priorities are everything. There´s a million things that you might think are important for your financial and personal security. Organize yourself and take a deep look into what things are most valuable for you and the risks of not having the right insurance in the case of an unexpected event.
- Get to know the vocabulary: Before even start considering any option, it´s a good idea to make a little research on the web about the most popular terms such as:
- Coverage: The amount of risk or liability covered for an individual or entity by way of insurance Insurance coverage is issued by an insurer in the event of an unforeseen or unwanted occurrences. There are general different types of insurance coverage, such as auto or life or more exotic forms such as hole-in-one insurance.
- Policy: A contractof insurance, describing the term, coverage, premiums and deductibles.
- Premium: The specified amount of payment required periodically by an insurer to provide coverage under a given insurance plan for a defined period of time.
- Insured Value: Amountfor which an insurance cover is bought on a building, and the basis on which insurance premium is computed. According to the coinsurance clause, it must not be lower than a certain percentage (usually 80 percent) of the insurable value of the building to be able to claim a partial loss in full.
- What´s your budget? Think about your income and how much can you pay for insurance, in order to make sure you can fulfil the commitment.
- Look for options: Your insurance company could be a big conglomerate or a specialized company (like us). But the most important thing is to make your homework and research about the history and background of the company, presence in the country and prices. Your insurance company must have a website and other communication channels 24/7.
- Compare: We know that you will be tempted to choose the cheaper option of the market, but what we recommend you is to make a list of benefits and disadvantages of each option to make sure you are not losing anything.
Hopefully, after following these 5 simple steps you will have a clear idea of what you want. If container insurance is what you are looking for, then contact International Container Insurance professionals to get a quote. We also have a great FAQ section that you can consult if you still have doubts.
Sources:
http://www.investopedia.com/terms/u/umbrella-insurance-policy.asp
http://www.soyentrepreneur.com/29265-10-tips-para-elegir-un-seguro-de-vida.html
http://www.businessdictionary.com/definition/insured-value.html#ixzz40Qx2nCfP
