Commercial Insurance Questions to Ask Your Agent

13 Feb Commercial Insurance Questions to Ask Your Agent

Ask your agent these questions to better understand coverage.

Each business has different insurance needs. Some will require higher liability coverage, while others need to protect merchandise or cover services. No matter what type of business you operate, business insurance is a must. To help you find the reliable coverage you need and deserve, take a look at these questions to ask your commercial insurance agent.

What coverage do I need?

This answer will depend on your business industry, size, location, and risks, among other factors. However, every business should consider securing:

• Business property – protects your property and everything inside
• Business liability-protects your business from the cost of covered liability claims and lawsuits
• Commercial umbrella – provides an extra layer of liability that arches over existing coverages
• Workers’ compensation – helps to pay certain benefits to employees who experience injury, illness or death during their employment with you.

What other types of coverage do I need?

If your business has a company vehicle, you will need to have commercial auto insurance. If you sell products, you should secure product liability insurance to protect you from damages, injuries, or lawsuits related to your products. If you use rented equipment, it needs to be insured. Talk to your agent about what other policies your business could benefit from.

Are there any discounts available?

If you don’t ask, you don’t get! As a small business owner, your budget might be tight. Discuss with your agent if there are any discounts you would be able to qualify for. If there aren’t any, you can discuss possible discounts that could qualify for in the future.

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