Many small businesses believe they are covered. Coverage does not equal protection.

Here are 10 common insurance mistakes:

1. Carrying $250K auto limits
2. No umbrella policy
3. Ignoring pollution exposures
4. No annual policy review
5. Incorrect workers comp classifications
6. No abuse coverage where needed
7. Relying on personal auto policies
8. Choosing lowest premium over proper limits
9. Not understanding contract requirements
10. Working with a generalist broker

Insurance mistakes rarely feel expensive until a claim occurs.

Proper structure protects assets, contracts, revenue, and long-term growth.

For a comprehensive insurance review, contact Prosperity North Advisors to schedule a consultation.