Three Tips Small Business Need to Know When Getting Commercial Insurance

Commercial insurance is essential to any type of business in the Dallas, GA area. However, it can be especially important to small businesses. Most small businesses are barely making it. As such, a loss can be catastrophic. The right policy will cover your small business, ensuring you don’t go under because of something out of your control. Here are three tips you need to know when obtaining commercial insurance.

Determine What Coverage You Need

Commercial insurance can include many different things like coverage for theft, property damage, interruption of business, and loss of employees due to injury. If you are a small business, you may not need all of these coverage types. For example, if you do not have any employees, that may be a moot point. Always determine what coverage you need so you are not paying more for coverage you do not need.

Select the Right Coverage Amount

The next tip is to select the right coverage amount. You don’t want to undervalue your store and belongings or you can be in the hole if something happens. Likewise, you don’t want to overvalue them or you are paying for more insurance than you need. 1 Source Insurance can help you select the right coverage amount.

Carefully Pick a Deductible

Lastly, carefully pick a deductible amount. Selecting a high deductible can save you money, but it does you no good if you don’t have the money to pay your deductible if something happens.

Do you need to purchase commercial insurance? Then let 1 Source Insurance, serving the greater Dallas, GA area, help. We offer a wide array of insurance services and can help you find the best policy for your needs. Give us a call today for a quote or to schedule a meeting to discuss your insurance needs.

Should You Add Your Child to Your Policy, or Let Them Get Their Own

Parents with driving-age children in Dallas, GA must choose between adding their children to their auto insurance policy or letting them get their own insurance. There are various reasons to choose one or the other. Here’s a look at both options to help you decide.

Adding Your Child to Your Policy

Adding someone under the age of 25 to an insurance policy can cause rates to rise. If that person hasn’t established a driving record of some sort, then they’re often considered a high-risk individual. Your own healthy driving record can help some.

If you have spent some time with your insurance company, it’s possible they will take that into consideration. One positive aspect of adding your child is that coverage will kick in no matter which car on the policy their driving.

Letting Your Child Start Their Own Policy

Even with their own policy, young people may still have a high-risk designation. In addition, they will only have coverage if something happens to the vehicle on their policy. If you let them drive your car and not their own, then your insurance may not help much or at all if they’re in an accident.

Considering the Future

When deciding, you should also consider the future. You may find adding your child now is beneficial, but at some point, your child will likely seek their own policy anyway. Starting them off with their own policy can help to teach them some valuable financial lessons. It can also help them to establish an insurance record, which can benefit them later.

Discuss the Possibilities

In Dallas, GA, there’s no right or wrong way to go about this. You should discuss the options available to you with 1 Source Insurance. Everybody’s insurance needs are different, so you should explore both possibilities to see what will work out best for you in the end. Don’t guess, contact 1 Source Insurance today to ask about a quote or situation.