You know your business best. Make sure that the agent you’re working with is interested in finding out about it. – YOUR BUSINESS –
You know your personal life best. Similarly if your agent doesn’t take the time find out about it they will not be able to help you to sleep well at night.
The more questions they ask and the more you share in terms of your operations, the better chance of understanding the risks and exposures involved and therefore reducing the odds of potential gaps in your insurance program.
Many business owners and individuals buy insurance based on price and this approach can lead to limiting or excluding coverages which become extremely relevant in the event of a claim.
Insurance is about managing risk. Therefore thinking through the various aspects of your operations and uncovering the risk factors involved and then obtaining quotes for coverages that will protect you against these threats will allow you to make an informed decision about what risks you are willing to take and to what extent you purchase coverage.
That being said it is always a good idea to read your policy ahead of time.
Insurance is an agreement between you and the insurance company and the policy describes that agreement. The best way to avoid any surprises is to know what the agreement says before you need it.
There are certain things that are not covered. There are duties expected of you before and after damage or injury. It is not the most interesting read but highly recommended. Read a little everyday and in a few days you’ll be done.
In my experience most people only read their policies when they have coverage denied for a claim and by that time it is usually too late. And this causes a lot of stress.
Become familiar with your agreement and ask questions about anything you do not understand. You may end up choosing one company over another because of something in the agreement (not the price) which makes it more suitable to you.