An insurance quote is a detailed estimate on the cost of business insurance, which outlines the basic information about the coverage and cost of an insurance package. A Commercial General Liability Insurance estimate will have the following information:
- Your annual premium. The amount you'll have to pay each year to remain covered.
- Your deductible. The amount you'll have to pay each time you file a claim before your benefits kick in.
- The limit of your policy. The total amount the insurance company can pay for claims that happen in the course of a year.
- Coverage details. This includes information on the type of lawsuits covered under your
Commercial General Liability Insurance policy as well as any other benefits (e.g., some policies cover immediate medical expenses when clients are hurt on your property).
An insurance quote is more than just the price you'll pay for your policy. It's actually a brief outline of the important information about that policy. But before you get a quote, there are a few things you should know. Read on to learn more.
Where Can I Get a Quote on Commercial General Liability Insurance?
Let's say you need a new roof on your house. It's a big project. It's important the job is done well. You ask friends and neighbors for recommendations. You call the roofers they recommend and a few others you find online. The roofers come by your house, get their measurements, and give you a cost estimate on a new roof.
Getting an insurance quote works the same way. To start with, you can get small business insurance recommendations, read Google reviews, or talk with some friends. Then, you can talk with insurance agents at those companies who will give you a quick estimate on the cost of small business General Liability Insurance.
Insurance agents might work with you over the phone or have an online insurance app for price quotes.
How to Tell Fact from Fiction in Insurance Quotes
Analyzing a General Liability Insurance cost estimate can be difficult because two quotes can look similar but be very different. For instance, two policies might have the same "cost" in premiums, but one policy actually covers more than the other. On the other hand, sometimes a policy might offer a lot of coverage, but most of the things it covers aren't relevant for your business. So how do you know what to look for in insurance estimates?
You want to stick with the basics when getting insurance quotes. Find a well-recommended insurance company that works with other small businesses in your industry. That way, you'll know you're getting insurance that works for a business of your size and specialty, and you'll know you're working with a company that other businesses have found helpful.
Dos and Don'ts of Small Business Insurance Estimates
In summary, remember that buying insurance is an important investment. When you are ready to build a business protection plan, keep the following in mind:
- Don't make the mistake of only getting one quote.
- Do make sure you work with agents who can give you quotes from multiple insurance providers.
- Don’t purchase from the first provider you find online.
- Do find reputable companies that come well-recommended.
- Don’t settle for companies that have never worked with a business like yours.
- Do find a company that specializes in small business coverage.
As it happens, Insureon employs agents who specialize in various small-business industries. Contact us when you are ready to review multiple insurance quotes at once.