Things To Ask When Buying Insurance For Your Small Business
Are you moving your small business out of your home and into a commercial location? Do you think that you have everything ready for your upcoming move? While you may have all of the necessary furniture and a new employee or two, one thing that you may have been putting off is getting commercial insurance for your company and your new location.
While you probably already have experience buying things like auto insurance or homeowner's insurance, commercial insurance may seem like a different thing entirely. In order to choose the best commercial insurance agency for your needs, here are a few questions that you should be asking of prospective agents:
Will this policy be handled by a single agent or by a team?
When you buy homeowner's insurance and sometimes auto insurance, your policy and any claims are often handled by a single agent. If you have to file a claim on your homeowner's insurance policy, dealing with a single agent may be easier than trying to coordinate with an entire team. The same can also be true for a commercial insurance agency. On the other hand, if your agent happens to be out sick for whatever reason, it may be more difficult to get a claim processed for your business. You'll have to decide whether familiarity or efficiency is better for your business.
How long does it take for claims to be processed?
A good commercial insurance agency should get back to you within one business day to follow up on any claims that you file. Actually processing the claim can take longer, depending on the nature of the claim itself, but you should definitely know that there is someone working on your claim. You definitely don't want an agency where it takes more than a day or two just for the claims processing to begin.
What if the company needs a different policy?
Your small business may be fine right now with a cookie cutter policy, but it won't always stay that way. You may currently need liability insurance but you don't want to pay for worker's compensation insurance until you actually hire employees other than yourself. Look for a commercial insurance agency that has the flexibility to allow you to pick and choose exactly what sort of coverage is right for you. Being able to pay for what you need and not have to pay for unnecessary coverage will save your business money in the long run.
For more information, speak with insurance companies like the one represented at http://www.martininsurancecompany.com.
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