Time for a business insurance check-up?

Insurance is one of those things that you don’t think about until you really need it.  So in that sense, the frequency of visits with your insurance agent is for most of us equivalent to the frequency of your doctor visits: you’d rather not be there on a regular basis if you can help it.

As a veteran agent of the insurance industry for over 28 years, Mike Olson, manager of Grand Rapids State Agency, has seen all sorts of “patients.”  He’s worked with customers who’ve experienced an accident and wished they had more coverage and he’s had others who were so insured that a scud missile wouldn’t faze them.  So, Mike knows insurance and he knows people, a lot of people. 

Grand Rapids State Agency offers no-charge/ no-obligation insurance check-ups for businesses.  He can do this at your office, over the phone or in his office. Unlike the doctors of today, Mike makes house calls.  He will review everything from property and materials to fleet vehicles and liability. 

“Liability coverage is critical,” explains Mike.  “Having the wrong coverage at the time of a loss can mean anything from having to work an extra year or two before retirement to losing your business. I’ve seen it happen, and it’s heartbreaking.”

The two main concepts you need to know when it comes to insurance are exposure and coverage.  Maybe the ideas of coverage and exposure hit a little too close to home for those of us who feel this year’s winter has been especially brutal, but these two words are the foundations on which modern insurance is based.  Buy too much coverage and you’re paying more than you need to.  If you don’t have enough, you’re one accident away from disaster.  The challenge is to have the right amount of coverage so you’re free to focus on running your business and not worry about the “what if’s.”

Business coverage varies widely depending on the nature and size of the business, number of employees and physical location.  A lot of different pieces can be added and subtracted when it comes to a commercial insurance packages, and much like a modern day physician, Mike finds that prescribing the right mix of coverage is often dependent on little details.  That’s why Mike takes a comprehensive approach to learning about the business owners and their business before prescribing the right mix of coverage.  “Small differences in coverage can be critical when a loss occurs, so I want to make sure the coverage matches the need perfectly,” Mike added.

As an independent agency, Grand Rapids State Agency works with over 25 insurance companies to provide the most appropriate and affordable coverage possible.  Give “Dr. Mike” a call today (218-326-1122) or stop in the office for a free business insurance check-up.  You’ll walk out with a better understanding of your insurance needs, and maybe even a lollipop if you’re well-behaved.       

 Mike Olson, Grand Rapids State Agency Manager

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