Getting the right business insurance is directly tied to an accurate risk assessment. Company owners need to know the specific types of risks they face in the course of doing business. Some, if not all, of these risks may be covered by general liability insurance in New Mexico, while some may require more specialized coverage.

Examining Risk Exposure

The first step in assessing risk is by looking at the areas where your business is exposed to possible injuries or property damage. This means drawing up a list that will most likely involve the following factors, among others:

• Hazards and potential areas for injury on the property itself
• Ways employees may be injured in the course of doing business
• Assets at risk for being lost or damaged and the cost to replace them

What’s Not Included

It’s important to take into account any specific risks that your company faces that aren’t part of a general policy. For example, some businesses are more at risk for cyber attacks than others. In those cases, an additional cyber liability policy may be called for.

Assessing risk is the first step in determining the right insurance coverage for your company. General liability insurance in New Mexico is a good starting point for building the best coverage for the needs of your business.