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Not every agent knows business insurance policies.  Find one who specializes in your type of business.  For instance, small business owners might benefit from a Business Owner's Policy (or "BOP"), which is a package of insurance for small businesses.  However, many agents don't even know that BOPs exist.  Perhaps even more importantly, DO NOT assume your insurance agent knows what is and is not covered in a particular policy.  Policies are drafted with excessive legalese, and even if your agent is an attorney, many of the subtle exclusions might be missed. 

For this reason, if you have a question about whether a specific activity is covered by your policy, it is best to send a letter of confirmation to your agent or insurance company saying in plain English exactly what it is you believe the insurance policy covers.  This isn't always going to overcome what the insurance contracts says, but it could prove invaluable if a court determines the insurance contract is confusing or ambiguous.

You should also talk with your agent about coverage limits.  It may seem like a conflict of interest for an agent to tell you to consider upping the limits of your policy.  However, a good agent won't suggest doing so unless they have a very specific justification.  You should ask what your agents rationale is for the increased limit, and let your intuition and common sense be your guide.  Remember, don't be penny wise and pound foolish when it comes to insurance.  However, that doesn't mean you have to buy every possible coverage that exists.  The reasons for buying a policy should make some sense to you.  If you don't understand it, don't hesitate to get an attorney involved to make sure your not being mislead by an unscrupulous agent.

For more information about purchasing insurance, visit www.mnagent.com

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