Introduction
Running a business means managing risks. Yet, many companies—especially startups and small businesses—make costly insurance mistakes that could be avoided with expert advice. At MAX WAVE LLC, we’ve helped countless businesses strengthen their risk protection by correcting these common errors.
Mistake 1: Underinsuring Property and Equipment
Many businesses rely on basic policies that don’t account for the actual replacement value of their equipment, especially in industries like construction, healthcare, or tech. We help our clients perform annual value assessments to keep coverage up to date.
Mistake 2: Ignoring Professional Liability
Even the most competent professionals can face lawsuits. Whether you’re a consultant, designer, or therapist, errors & omissions (E&O) insurance is essential. We guide clients through the nuances of professional liability coverage, ensuring it matches their industry needs.
Mistake 3: Overpaying for Worker’s Compensation
Many companies either don’t classify their employees correctly or miss out on available premium discounts. MAX WAVE LLC offers classification audits and helps identify ways to reduce workers’ comp costs without compromising coverage.
Mistake 4: Forgetting About Cyber Insurance
With rising digital threats, cyber liability insurance is now essential. Yet, many business owners assume it’s included in their general liability plan. We help you understand where your exposures lie and offer tailored cyber protection plans.
Mistake 5: Choosing Based on Price Alone
While low premiums seem attractive, they often come with low claim limits or high deductibles. MAX WAVE LLC educates business owners on how to strike the right balance between cost and coverage.
Our Solution: Strategic Risk Planning
We don’t just sell policies—we build customized risk strategies. This includes analyzing your industry, reviewing past claims, and forecasting growth. Our business clients appreciate having a dedicated consultant who acts like an extension of their management team.
Conclusion
Avoiding insurance mistakes starts with asking the right questions. At MAX WAVE LLC, we provide the answers, experience, and insight to protect your business and empower growth.
