Maintaining the right type and amount of business insurance is vital to the survival of your business. If your company is not properly insured, even a single mishap can lead to disaster. Family owned for over 30 years, Sun Ray Corp has been offering New York City businesses the best insurance rates, flexible plans, and the most invaluable advice on liability coverage for decades. Sun Ray Corp believes that staying informed can keep your business from going under in the event of a natural or legal catastrophe. Below, the company shares some of its expertise, explaining the dangers of being underinsured:
- Inadequate Payout: If you do not have enough coverage, your payout might not be enough to return your business to its position before the accident, natural disaster, or lawsuit. Consult with a qualified insurance broker to determine how much business insurance and liability coverage your company requires.
- Inadequate Indemnity Period: The indemnity period is the length of time during which you will receive benefit payouts under your policy during an interruption of business. Thus, if your indemnity period does not cover the entire length of time during which your business is closed for repairs, you may not be able to pay fixed costs and other bills.
- Undervalued Revenue: If your loss-of-income policy does not adequately reflect your actual revenue, your insurance payout may only be a percentage of the amount you would normally earn.
If you are unsure if your current business insurance and liability coverage is adequate to protect you against loss, contact Sun Ray Corp. They have been providing New York City businesses with valuable advice and the best insurance rates for decades. To learn more, visit them online or call (212) 732-5280 to speak to a friendly, knowledgeable representative.