Monday, 19 December 2011

How to Get Business Insurance Quotes


When you open a business, there are many things to consider. Carrying the right type and amount of insurance is one of them. It is vital to have the coverage you need, if for no other reason than your own peace of mind. By doing a little research you should be able to find the right insurance coverage for your business. In most cases a business insurance guide such as this will help you get the best business insurance quotes available. Following are a few tips on how to get business insurance quotes.

Research Is Important
As an entrepreneur you are used to taking chances. You’re also used to thinking for yourself. Before you actually opened your business you more than likely took the time to research the market you entered. You needed to make sure there was a demand for your product, and you had to develop a plan to produce, sell, and deliver that product. You should approach finding the right level of business insurance in the same way--by doing research.



Ask Around
One of the best ways of finding out how much insurance you should carry is to ask people who have businesses similar to yours. Make an appointment with these business owners, or take them out to lunch, so you can pick their brains. Ask them what type of business insurance they have, and what company or companies they deal with. See if they are satisfied with the service and coverage they have or if they would recommend that you find a different carrier. Find out how they went about getting the quotes they needed for comparison, and then do the same thing.

Talk to Your Own Agent
Although you’re just starting out in business you more than likely already have insurance coverage on your home, health, life, and/or auto. Talk to your own agent and see what kind of business insurance coverage they would recommend, and if they offer business insurance themselves, what kind of deal they can give you. Because you already do business with them, they may be able to give you a discount--you may even be able to bundle your business coverage with your personal coverage and get an even bigger discount. Many insurance companies offer multi-policy discounts, and if you carry both personal and business insurance through them, you should qualify for a hefty reduction in insurance premiums. Your own agent may be able to guide you through the process of getting the right level of business insurance coverage, or may be able to point you in the right direction.

Shop Online
The Internet is an incredible resource for many facets of everyday life. You may even plan to make use of it in marketing your product. Another way it can be useful is for shopping for business insurance quotes. Many traditional insurance companies have an online presence, and there are other insurance companies who specialize in doing business online because it saves the overhead involved in operating out of a fancy office. Online insurance companies may be able to offer you huge savings. Use the quotes you get for comparison to insurance quotes from brick and mortar insurance companies.

Independent Agents
It may also be a good idea to contact any independent insurance agents in your vicinity. Some people don’t fully trust doing business with online insurance companies because they may not be able to contact an agent quickly enough if they need to file a claim. That alone makes dealing with a traditional brick and mortar agency attractive. By contacting an independent agent you can assure yourself that you’ll be able to reach them if you need to. What makes approaching an independent agent worth the trouble is the fact that they normally deal with a number of different companies on a regular basis and may be able to provide a reasonable business insurance quote from more than one source.

Get Good Coverage
Although you’re just starting out and want to keep your costs low, you shouldn’t cut corners on business insurance. When you’re gathering insurance quotes make sure the agents you’re dealing with understand that you want to get good coverage and a good price.
Guest post from Andy Granger.