Business insurance is an absolute necessity. However, it can be a challenge to determine what is the best coverage for you, at a reasonable price. You need the right kind of insurance for your industry and your employees, without being under- or over-insured.

Here are some tips on choosing business insurance, from an article by Faith Thomas for Inc.:

• Choosing coverage: Many insurers offer insurance packages (specific to certain industries) that combine several standard coverage options sold as a single policy at a discount. You may want to consider additional coverage such as cyber insurance, key employee insurance, or terrorism insurance.
• Special cases: Depending on your industry, you may need special insurance coverage beyond the norm. For example, if your company does fabrications, you may consider contamination/pollutant cleanup and removal insurance or a mechanical breakdown policy.
• Hire help: Consider using the services of an insurance broker to find your best policy by comparison shopping. Try your business trade associations to see if they sponsor an insurance program designed specifically for your business. NAHAD, FPDA and ISD all offer business insurance programs to their members. And, don't forget to ask your personal and professional network for referrals.

It is a good idea to review your coverage periodically,to make sure your records are up to date and to see whether you can save any money on your premiums. This article from About.com guide Gregory Boop offers some good ideas, including:

• Make sure you have copies of all policies and claims forms.
• Compare your schedules to autos and equipment actually owned.
• Compare your named insured and key employees to the employees that work for you.
• Look for irrelevant or repetitive coverage.
• Adopt and maintain a consistent safety plan.
• Classify your workforce correctly.

Keep in mind that Tribute Inc. also offers a disaster recovery service. While it is not insurance per se, it can help minimize interrruptions to your business in case of a hard disk failure or other equipment malfunction. We will restore your most recent backup data to a temporary replacement server and will ship it to you within one business day. You can find out more here (TrulinX software users) or here (Tribute software users).