Successful business owners often understand the importance of business insurance, but may not have the time or expertise to ensure they have the best possible coverage based on their needs and risks. Perhaps you already have a business insurance policy in place but aren’t sure what it covers. Maybe you’re new to the idea of business insurance, and aren’t sure what kinds of coverage you need to protect your company assets.
Regardless of your situation, you’re on the right track in your quest to compare business insurance and protect all you are working to build. One of the best ways to get the coverage you need is to work with an independent agent. These agents work with multiple insurance companies and commercial specialties, which means you can get every aspect of your business coverage handled through one professional. Contact an independent agent in the Trusted Choice® network today to find the best business insurance for your particular needs.
Types of Business Insurance You May Need
The most common types of business insurance coverage include:
- General liability insurance
- Commercial property insurance
- Commercial automobile insurance
- Workers compensation
Your specific situation might also require that you purchase additional coverage to match your business risks. The additional coverage types you may need will depend on the nature of the work you do. For example, they might include the following:
- Professional liability insurance
- Product liability insurance
- Business income insurance
- Cyber liability insurance
- Business interruption coverage
Some companies also offer business owner policies, or BOPs, which encompass two or more types of business insurance in an affordable package.
What Is the Best Business Policy for Your Company?
Your first step in comparing commercial insurance prices and policies is determining your business needs. Your specific needs will be based on your company’s size, type and value, as well as the type of work you do.
For example, do your workers handle hazardous materials? Do they deliver goods or services in their personal vehicles, or in a fleet of company vans? Do they serve food, either in a restaurant or via a catering service to venues such as wedding reception halls? Do you or your staff members offer professional advice that could result in a liability claim? Do you have a building that could be at risk for fire or severe weather damage?
Identifying your risks and level of liability will help you and your independent agent assess various business insurance companies that can provide the specific coverage you need at the premium that meets your budgetary requirements.
To find the best business insurance for your company, you will want to review policies and options and compare insurance prices from several different insurance providers. The following are a few things to consider as you compare companies and quotes:
- Will the liability coverage limits provided adequately protect your business assets?
- Does the policy offer adequate disability benefits for you as a business owner?
- Are the premium rates competitive within the business insurance market?
- Is the coverage deductible appropriate for what you can afford to pay in the event of a claim?
- Does the insurer have a strong financial standing and few customer complaints?
No two insurance companies are the same, and when you compare business insurance you’ll quickly find that no two policies are the same either. You may find you need a little assistance when evaluating insurance companies and plans to ensure you purchase coverage that is customized to your business.
Using an Independent Agent to Compare Business Insurance
While it can be time-consuming to compare the commercial insurance products of several different companies, it can be very worthwhile to do so because you can potentially find better and more comprehensive coverage at a lower premium rate. Fortunately, a local independent agent in your area can help with this process.
Working with an independent agent means you can leave the price comparison shopping to an agent who represents multiple high-quality insurance companies. Independent agents will present a number of the best business insurance policy options to you. They’ll also make sure you understand every aspect of your coverage. You’ll benefit from your agent’s knowledge and guidance while still serving as the final decision-maker.
Purchasing the Best Business Insurance for Your Company
Because your business is unique, so are your business insurance needs. A Trusted Choice member agent can find you a business insurance package that is tailored to your company and your specific risks. Your local independent agent will handle the footwork of finding the coverage you need at the best price for your budget and will assemble the various types of business insurance together for you.
Trusted Choice member agents who specialize in commercial lines of insurance are knowledgeable and skilled at helping business owners like you make the best choices. Let a local independent agent compare business insurance options for you, so you can devote your time to managing your business. Find an agent in our network today.