When it comes to protecting your small business, there are plenty of steps you want to consider. While investing in enhanced digital security features can be wise when your goal is to secure valuable resources like data, you also need to take a closer look at your insurance coverage. In most cases, small business owners have far more options in front of them than they realize when it comes to customizing their packages. Review these points and gain more perspective on the decision.
What Is a Consideration Clause in Insurance?
One point to think over is the consideration clause in insurance policies. In essence, this is an aspect of a policy that defines the premium and associated payments. The due date of each payment is typically specified in the consideration clause, as well as information like the date the policy goes into effect. In some cases, the clause will also go into describing what will occur in the event that a payment is missed. Outside of a consideration clause, points to think over for your insurance policy can include:
- Directors and officers coverage
- Errors and omissions policy
- Commercial auto policy
Learn More About Consideration Clauses
Deciding what insurance policy is best for you is not always a straightforward effort. Take time to review the options available to you and see how you can customize your plan to meet your exact needs.