In today’s increasingly globalized economy, businesses of all sizes often find themselves working beyond the borders of the United States. This can leave a company vulnerable if their insurance coverage is not as expansive as their business dealings. In these situations, international insurance may be a smart choice for your business.
International insurance is a type of insurance designed to cover risks associated with doing business outside of the United States. In many respects, it is similar to standard business insurance; the primary distinction is that it will cover losses that occur abroad. It may include a broad array of different types of policies, including property insurance, general liability coverage, automobile insurance, professional liability insurance, workers’ compensation, kidnapping and ransom insurance, medical risk insurance, and marine insurance. The particular types of policies that your business may need will depend on the work that you do and the risks that your company and employees encounter while working outside of the U.S.
Like any other type of insurance, what a company pays for international business insurance also hinges on essential factors like:
When it’s time to purchase international business insurance, we can help you select the different policies your business needs based on your dealings abroad. This way, we can help you find the coverage you need at prices you can afford and that adequately cover your overseas exposures.
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.