It took everything I had to keep it clean here.....So, have a great day and enjoy the TIPS!
Top 5 Commercial Insurance Tips
Commercial insurance is insurance designed for your business. There are four main categories of coverage which include property insurance, general liability insurance, commercial automobile insurance, and umbrella insurance. Umbrella insurance is additional liability-type insurance coverage in case a claim exceeds your liability insurance limits.
1. Shop and Evaluate Value
Just because you have always been able to get a great deal on your private auto or homeowner insurance policy from your neighbor doesn’t mean that particular insurer will be the best choice for your commercial coverage. Evaluate policy prices, but be sure your decision is based on value and price versus just price.
2. Do Your Homework
Commercial insurance is not one size fits all. Your insurance coverage requirements will depend on many variables. You should work 1 on 1 with your agent to tailor your policy for your needs. Let’s work together and do some homework before we enter into a business agreement. Ask yourself these questions.
3. Conduct a Risk Assessment Before You Shop
Determine if changes can be made to lower your risks. Your work in this area alone may get you a lower premium because the insurer will see your efforts and your attention to the little things.
4. Get Credit For Having Great Credit
People with the best credit are proven to be lower risks which in turn provide the lowest premiums. The better your commercial credit, the lower your commercial insurance rates can be.
Pay your bills on time and monitor your total debt load that you carry.
5. Don’t Over Insure
Don’t pay for insurance when you don’t need it. If you are in a seasonal business, shop for a policy that will allow seasonal adjustments or coverage. Why spend money insuring your business in the off season when you can use the savings to invest in business growth. Most insurance carriers will not allow seasonal policies, but it can’t hurt to look.
So, call us today to discuss your insurance needs! Nothing to lose, and everything to gain. Stay protected my friends.
1. Shop and Evaluate Value
Just because you have always been able to get a great deal on your private auto or homeowner insurance policy from your neighbor doesn’t mean that particular insurer will be the best choice for your commercial coverage. Evaluate policy prices, but be sure your decision is based on value and price versus just price.
2. Do Your Homework
Commercial insurance is not one size fits all. Your insurance coverage requirements will depend on many variables. You should work 1 on 1 with your agent to tailor your policy for your needs. Let’s work together and do some homework before we enter into a business agreement. Ask yourself these questions.
- Do you own your own property?
- Do you have customers who come to your work site?
- How many employees do you have?
- Do you have vehicles to cover?
- How many vehicles are over the road?
- What is the total number of autos you use?
- What are these vehicles used for?
- What kind of inventory do you have to carry?
- Is there any special equipment you have to maintain?
3. Conduct a Risk Assessment Before You Shop
Determine if changes can be made to lower your risks. Your work in this area alone may get you a lower premium because the insurer will see your efforts and your attention to the little things.
4. Get Credit For Having Great Credit
People with the best credit are proven to be lower risks which in turn provide the lowest premiums. The better your commercial credit, the lower your commercial insurance rates can be.
Pay your bills on time and monitor your total debt load that you carry.
5. Don’t Over Insure
Don’t pay for insurance when you don’t need it. If you are in a seasonal business, shop for a policy that will allow seasonal adjustments or coverage. Why spend money insuring your business in the off season when you can use the savings to invest in business growth. Most insurance carriers will not allow seasonal policies, but it can’t hurt to look.
So, call us today to discuss your insurance needs! Nothing to lose, and everything to gain. Stay protected my friends.
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