Why Do I Need to Fill Out an Application for Business Insurance?

All you want is an estimated quote for General Liability or Professional Liability Insurance, why do you need to fill out an application? Such a pain in the you know what. Believe me, I understand. Time is a valuable resource and the last thing anyone wants to do is fill out an application for your Business Insurance. The reality is, you want to give the insurance underwriter the best look at your business, which means the more information (and accurate information) the better. It can be very difficult for startups because half the information they may not even know. Nevertheless, this information is very important when getting an insurance quote for your business.

​Here are 3 reasons why you should take the time to fill out the entire application.

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Faster turnaround time on your quote. Do you want your application to go to the back of the pile? I hate to say this, but think of the application as a homework assignment and it's going to be graded. Underwriters love to analyze risk, that's there job, so make sure to answer all the questions. If not, back and forth between agent, underwriter, and insured ensues. This can slow down the quote process. 

Garbage in garbage out. At the end of the day, you most likely want an accurate quote, right? Don't just throw some numbers together. Accurate data is going to give you an accurate quote. 

No surprises. The last thing any business owner wants, especially when when it comes to Business Insurance, are surprises. If you are selling flooring make sure to include installation sales if you are installing as well. Also, when it comes to estimating gross sales, you don't want any surprises when it comes to the Premium Audit. 

So, why do you need to fill out an application? To get a fast and reliable Business Insurance quote. If you have questions about the application, make sure to ask your agent or contact us. We are always happy to sit down and review it with you. If you need an application for a Business Insurance quote, let us know. We are happy to help! 

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