Hey there, small business owner. If you have joined AAI and own an independent insurance agency, you are part of the select few that have decided to take a step into successful entrepreneurship. Congratulations!
Every small business faces challenges —even if you're in the insurance industry. To prevent these challenges from affecting your business, it's best to be proactive and make sure you get the right amount of insurance coverage. You make a living out of helping others assess their risks and find the best products to protect them. We are here to do the same for you.
In addition to the basic liability and property damage coverage, you may want to consider investing in the following:
If you're thinking of expanding your coverage, umbrella insurance is a great option. It provides an extra layer of personal liability protection, covering things that may not fit under any other specific policy. Certain added risks like claims for defamation of character issues or operating rental vehicles are good reasons to get this type of insurance.
The internet has changed a lot over the years. Although it is has become an essential tool, the risk of cyber security breaches has increased significantly. Today, cybersecurity insurance is a must and can protect you from things like wire transfer fraud, social engineering, ransom, and extortion.
Sexual harassment claims are always a potential risk. You might have a controlled environment at work, but your control only goes so far. In the case of allegations of discrimination, sexual harassment or other kinds of employment issues, like wrongful termination, it is best to be covered. Consider adding an extension to protect you against these claims with D&O or Employment Practices Liability Insurance policies.
Be the best independent insurance agency owner you can be. Protect yourself before you can protect others.