It’s easy to think that all insurance policies offer the same protection and coverage limits, but this myth can lead to gaps in coverage. Understanding the differences is key to making informed decisions.
The Reality:
Insurance policies vary widely in terms of coverage, exclusions, and limits. A one-size-fits-all approach can leave critical gaps in your protection.
Why Customization Matters:
- Specific Risks: Coverage should address the unique challenges of your industry.
- Policy Limits: Ensure limits are high enough to handle potential claims.
- Exclusions: Understand what’s not covered to avoid surprises.
Takeaway: Work with an expert to customize your policy and address your business’s needs. To fill any gaps, look into tailored options like industry-specific coverage, professional liability, and umbrella policies.