Augusta
VIP Contributor
It is always good to have a full coverage for whatever you are insuring to gain the full benefits. But the truth remains that some people do underinsure theirs which might be because of high cost of insurance, lack of knowing what to insure or not knowing what to insure.
This action comes with its own penalty. So when you underinsure you face the below penalties
There will be a law suit against you by your clients especially for business owners
You will impacted negatively financially. You might encounter losses as your insurance is not giving you full coverage for risks encountered
You might get your reputation damaged as you can't give your business they comprehensive coverage it needed.As you might not have the right coverage to help your clients that needed a protection
Add your thought?
This action comes with its own penalty. So when you underinsure you face the below penalties
There will be a law suit against you by your clients especially for business owners
You will impacted negatively financially. You might encounter losses as your insurance is not giving you full coverage for risks encountered
You might get your reputation damaged as you can't give your business they comprehensive coverage it needed.As you might not have the right coverage to help your clients that needed a protection
Add your thought?