Let's face it, insurance agents can ask a lot of questions. Sometimes, it may seem like too many. I can assure you, these questions are extremely important, and in most cases, are being asked by an underwriter from one of the insurance companies. Independent insurance agents, like us, represent many insurance companies when dealing with Business Insurance, which means we will probably be asking more questions than if you were to call a captive agent or an insurance company directly.
I know a lot of business owners tell me, "why do they ask so many questions?....I've never had a claim". Think about it this way, as a business owner, if you were going to put a $1,000,000 on the line for another company, what kind of questions would you ask? Now, I know the insurance company isn't giving you a loan, but they are determining whether or not they want to cover your business and defend your business in court should it come down to that. In addition, these questions can help determine coverage that is needed for your business. In some cases, businesses are getting a certain type of Business Insurance because it is required. This is fine, but sometimes, what is required isn't necessarily what is needed. It's important to understand why you are getting insurance. Some of the questions might seem redundant and might not seem relevant to your business, but if you are getting Business Insurance and the agent isn't asking questions, I would be concerned. If I can help with any Business Insurance needs, please let me know.
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Business Insurance is probably the last thing you're thinking about when it comes to your startup, but it's something you should consider. Here are a just a few reasons why:
Being a startup, money might be scarce, but Business Insurance is something that can save your business. Give us a call to see what coverages are available for your business. We would love to hear about your startup. 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. 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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