Based on the rating & reputation only you should think about choosing and finalizing that agency to decide and pick small business insurance policies for you. Whenever you plan a meeting with your commercial insurance broker next, take along this list of five important questions.
1. Do I need an insurance policy for my business, now? – There is no definite time to get your business or commercial property in the safe zone. The right time is when you understand the importance of insurance. Try knowing in detail, why commercial insurance is important, even if you are just a start up or really do not possess many assets. What kind of insurance do you need on priority? If you are operational or are just planning it is very important to consider, that everything, be it your property, machinery, workers or technical equipment, all needs to be insured from the very beginning! Do not forget yourself, also consider your protection and well-being; you are the owner or a partner, and you must be duly insured. Talk about the most important asset without which no business can function seamlessly, your workers, so far the people, who are exposed majorly to all the procedural risks, while working, especially if you own factory or have manually enabled heavy machinery, you must consider and understand about having worker’s compensation insurance from day one, which is a must have and a legally binding component of your business.
2. Can my intangible asset be insured, I really don’t have any heavy machinery at my office? – Even if you don’t own an array or a huge range of assets, it is important for you to get your commercial set up insured. Each business, even the digital ones, have their own range of assets, laptops, computers, safety systems, trademarks and so much more! Go ahead and inquire about all your intangible assets that can be properly insured, as commercial safety is not only about inventory or material items. Think about claims, lawsuits and other intellectual property issues, though not visible, but all demand due insurance, in order to keep your business and everyday working hassle free and seamless.
3. What are the different types of business insurance available? – You can choose from the wide range of commercial insurance available in the market, nowadays.
Raging from property Insurance that offers coverage for the physical location of the business and any damage to its contents from things like fire, theft, flood, and earthquakes, but you always need to inquire and be well aware of all the terms and conditions that come along with this policy to commercial auto insurance, that protects you against any loss or damage to vehicles used by your business. Also, there is liability Insurance to offer protection against negligence or product liability insurance covers your business for damages caused by a product. Also covering the health coverage for you and your employees, there are insurances, available. So, go ahead, ask, learn and know the one that suits your business the best.
4. What is the best suited commercial insurance for my company? This question is a must and the answer should be understood in detail. The suitability of a particular insurance, totally depends on your specific business needs, activities, insurance and the other working details. And this is where your insurance broker will advise you regarding the commercial insurance based on your business requirements and working situation.
5. How can I lower my premiums? What are the available discount? Indeed, this is a must, ask! In today’s competitive world, this question should be asked, as it saves your moolah, every single penny is important for commercial success. Lower down your premium by installing top quality security systems, fire fighting equipment etc.
Mitigate your risk and choose the best insurance brokers after complete knowledge about commercial insurance.