877-907-5267Like many other things, purchasing business insurance has a list of practices that will help ensure success…and tips to avoid making mistakes.
Purchasing business insurance starts long before you unlock the door on the day of your grand opening. The process doesn’t have to be long or arduous, but a little forethought goes a long way.
Buying the proper insurance and coverages is a lot more than just filling out and signing an application. Using the following list to help make the right decisions about your new business insurance.
The Dos
DO find an agent or broker with experience in your particular business. For example, if you’re a tow truck company, find an agent or broker who specializes in tow truck insurance.
DO interview several agents/brokers. Take notes and get a feel for their personality. Does it fit you?
DO comparison shop as you interview agents. Ask them for their recommendations regarding your specific business. They should be willing to submit these to you for no charge.
DO read the policy carefully. Have it looked at by your attorney if you’re unsure of any terminology.
DO make a list of your business property and assets. Give a copy to your agent for their recommendations.
The Don’ts
DON’T sign with an agent only willing to offer a package. Customization is important.
DON’T purchase a policy that is significantly lower than other quotes without asking questions. The old adage is often true…you get what you pay for.
DON’T underinsure your business to get a reduced premium. The cost could be your business if you have a claim that you can’t cover.
DON’T accept a policy that doesn’t cover all your needs and risk exposure.
DON’T assume anything; If you don’t know, ask.
Risk management is an art, and our business is helping you insure yours.
Get a Quote
Need additional direction or help? Click ‘Get a Quote’ above to start the process for a quick, free quote, or call 1-877-907-5267 to speak with one of our representatives.
