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A Business Insurance Update

We don’t expect you to be experts in business insurance, but we thought it might be fun to test you on what you do know about your business insurance.  Business insurance is designed to cover unexpected losses.  We can offer a wide range of business insurance options, so please call our office today.

Business Insurance Quiz (answers at the end)

Your deductible is the amount you are responsible for if a covered loss occurs.

Flood and earthquake coverage are always part of your business property coverage.

Cyber Insurance is protection against losses caused by hackers from businesses dealing strictly in e-commerce, but it does not exist.

Business Interruption covers your lost income no matter what kind of loss closes your business.

My employees are prohibited from suing me, as this would be a workers’ compensation claim.

Alternatives Insurance® Agency was established in St Louis County in the fall of 1992.  Throughout the remainder of 1990's and through the millennium, additional locations were opened in order to service North and West St Louis, Saint Charles and Jefferson Counties.  The demand for our products continued to increase motivating the partners of the organization to develop a business model in an effort to continue the growth and success without losing our superior customer service values.       

Answers

True-

False- You need to add this coverage under a separate policy

False- Cyber insurance can be purchase by all business

False- Business interruption only applies to covered losses under the policy

False- Your employees have rights under federal and state laws to sue you if they feel they have been wronged.  You would need employment practices liability insurance in order to protect you and your business from employee lawsuits.

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