By Sara Thomson
Tell me a little about yourself. What are your hobbies?
I am married 49 years to my beautiful wife, we have two children together. I enjoy bowling, outdoor adventures, and playing with my 4 grandchildren.
How long have you been in the insurance industry?
I have been in the insurance industry since my discharge from the U.S. Army in May of 1970. I have been with Hometown Insurance Agency for 7 years on a part-time basis assisting our commercial lines producers in the placing of new business and sharing my experience with the agency.
Generally, what types of insurance coverage do you discuss with small business owners?
When speaking with business owners we talk about their property, liability, auto and workmen’s compensation policies at a minimum. From there, we may get into a discussion on other types of coverages based on what type of business they are in.
What are some of the most common insurance mistakes you see businesses making?
Quite often I see that businesses do not have enough coverage and even more often have incorrect coverage.
What are some key things that more specialized businesses should consider?
Specialized businesses should be aware of their professional liability exposure. Most business owners do not feel that they have any exposure. Having an Errors and Omissions policy (E&O insurance) can cover most mistakes that come from any liabilities.
How can small-business owners make sure they purchase the insurance they want?
Interesting how you stated this question. “Purchase insurance that they WANT.” I focus more on what they NEED. I consider myself an insurance advisor. I will listen to what they want but will advise them as to what they need. Business owners can make sure they purchase the correct insurance by listening to the advices of an experienced insurance advisor, like any of our insurance advisors here at Hometown.
Can you explain why a business might need general liability insurance or an umbrella policy?
Simple. LAWSUITS! Pretty much anybody can sue anybody else for whatever they want. I routinely tell clients and prospective clients that by buying General Liability and Umbrella Policy you are getting an attorney on retainer. If you are sued the insurance company will provide a defense for that suit and will pay the settlement or judgement should you be deemed liable. Often I am asked “Do you think I am liable?” My response is always that the courts are the ones that determine liability, we just provide you with a company that can be your defense and pay a settlement or judgement if you are liable.
For any business insurance quotes or questions please call your knowledgeable Hometown Insurance Agent at 1-800-568-SAVE (7283) or email us at firstname.lastname@example.org