Calculate the value of the business assets you are trying to protect.
If the assets of the principals are exposed for any reason, calculate the value of your personal assets as well.
Depending on the type of business, make a list of the kinds of things that could happen that would have a substantial impact on the health or survival of your business:
- What would it cost per month to stay afloat, pay your overhead, salaries, rent and other expenses if your revenue was suddenly cut off?
- Are you located in an area that is especially prone to any particular risks such as flooding, firestorms, hurricanes or robberies?
- Would you rather pay lower premiums and have higher deductibles, or the opposite?
- Are you in a business that is especially susceptible to lawsuits?
Next: Meeting with an Agent