Whether you’re currently in the process of putting a business plan together or you’ve recently opened up your office, if there’s one thing that you’re going to need, it’s business liability insurance. Not only will it protect you in case someone injures themselves or their property is damaged at your office, but this type of coverage will also cover any expenses that may come from a fire at your company, too.
If business liability insurance is something that’s on your to-do list, but you want to know how to go about purchasing the best kind of coverage at the most affordable price, this article will provide you with five tips on how to get the results that you are looking for.
Know about the different types. Although you should definitely start with general business liability insurance, it’s important to remember that there are other kinds that you can add to your coverage, too. Some of these include commercial auto insurance, worker’s compensation, and professional liability insurance (which protects you should a customer or client feel that you did not properly render your services where they were concerned). You don’t want to find out after it’s too late that you didn’t have all of the coverage you need. Therefore, do thorough research beforehand. For a list of the types of insurance coverage that business owners have available to them, visit Forbes and put “types of insurance business owners should have” in the search field.
Don’t forget about business interruption insurance. Speaking of types of insurance that you should think about purchasing, business interruption insurance should definitely go on top of the list. This kind of insurance protects you should your company find itself out of operation due to something like a fire. What the coverage does is cover the profit that you will lose during that time. For many business owners, it’s a real lifesaver.
Consider 3-5 companies. Not all insurance companies are made equal. For this reason, you should do some cost and feature comparisons between 3-5 different outfits before making a final decision. Thanks to the internet, you can do a lot of research from the convenience of your home. For a list of some of the top business insurers, visit BusinessInsure.About.
Use a broker. If thinking about all of these different kinds of coverage has you a bit overwhelmed, something that you might want to do is hire an insurance broker to assist you. They are professionally trained to find you the best coverage, at the best price, and in the shortest amount of time. For tips on how to find a good insurance broker, visit UpHelp.org and put “pick a good insurance broker” in the search field.
Get some through an organization. If you’re looking for a way to keep a few extra dollars in your pocket (or business account), something that an Armonk Insurance Agent may recommend is that you look into getting an insurance policy through a business or professional organization. Oftentimes, they get group rates. A good place to start your search is your local Chamber of Commerce. Go to Google, Yahoo or Bing and put “Chamber of Commerce” along with your city and state in the search field.