Hello, my name is Vic Schumacher with HPE
Financial Services. Today we’re going to talk about how does business insurance work. Well,
business insurance you can look at in a couple of different ways. You can say business insurance
on the building, you can say business insurance on the liability of a third party coming into
your business and having something happen. Business insurance can be based upon the profits
and losses that you might have. But basically they all cover the same concept. You’re going
to try to get a policy, an umbrella policy, to cover in the event something happens. And
if it does, what would be the financial difficulty to you. Your business insurance could also
involve key man insurance for your key executives. That could be considered business insurance.
So you have to nail down the concept and the idea very closely when you’re talking to an
insurance agent or to an insurance adjuster. Business insurance can involve the adjustment
of things. I hope this has been beneficial for you. My name is Vic Schumacher, HPE Financial
Services, helping people every day.