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Understanding Your Business Insurance Needs

Updated: 9/16/2019
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12y ago

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Now that you own a business it's time to face reality: you need insurance. Just like you and me insurance personally to cover your house, your car, your health and your life, your business needs to be protected too. Often, the same agent who sells you a personal insurance can also sell insurance for your business. However, shopping around is important because prices and coverage can vary greatly between providers. Property and casualty insurance is a good place to start when shopping for business insurance, followed by liability insurance and commercial vehicle insurance. Workers compensation insurance may be required as well, depending on state law.

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Q: Understanding Your Business Insurance Needs
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Related questions

How will an insurance agent help figure out which business insurance best suits the needs of the company?

"First of all the insurance agent will sit down with the business manager and discuss what types of things are important in an insurance plan. Once the agent gets a good understanding of what the business is looking for, they will search through their providers and see which plans would work best for this business and their needs. Once they get a few different suggestions, they will meet again with the business management and discuss all the possibilities that could suite the business."


Where can I find the best business insuarance quotes?

Find business insurance policies that fit your needs and get the best business insurance quotes. Learn about all things insurance for your business at NetQuote.


What are risks covered by business insurance?

Business insurance policies can be custom tailored too your needs. I would suggest speaking with an insurance agent.


What is the use of consultants insurance?

Insurance consultants are professionals who specialize in assisting business and individuals in assesing their insurance needs and creating an insurance plan that will meet those needs.


What can you insure your business for?

Every business needs a liability insurance. Also to that, you should also get a Health Insurance and if your business includes a couple of directors, a Keyman insurance can be a good idea too.


Should I purchase insurance when I travel for business?

Depending on your needs and financial situation, business travel insurance should be considered for your business trips. Many travel insurance companies have business specific coverage, but you are not legally obliged to purchase travel insurance.


What things should someone have figured out before they can create their own insurance business?

When setting out to create a new insurance business, such as an independent insurance agency, there are two types of information that will be most valuable. The first consists of knowledge of the insurance industry, including appropriate legal issues and the workings of the trade. Secondly, having a good basic understanding of running a business is essential, and this includes not only business practices but understanding the nature of business within the locale one plans to do business; luckily there are business associations that can help newcomers get started.


Small Business Insurance?

form_title=Small Business Insurance form_header=Small business insurance is necessary to protect your company. An insurance professional can help you identify the potential risks associated with your company and customize your policy to meet those needs. Type of insurance needed:= {(),Business Owners Policy,Business Auto Insurance,Business Property Insurance,Business Liability Insurance,Home Business Insurance,Workers' Compensation,Business Umbrella Liability,Professional Liability Insurance,Directors and Officers Liability,Business Identity Theft,Group Health Insurance,Business Life Insurance,Key Person Life Insurance,Agricultural Insurance,Product Liability Insurance,Personal Insurance,Not Sure} Number of Full Time Employees=_ Years In Business=_


How much insurance do I need?

Insurance needs vary greatly depending on the individual and the risk being insured. You should consult with a local insurance agent to get a better understanding of your insurance requirements.


Where can we find business insurance prices?

Business insurance prices can vary depending on the policy limits. We would be happy to work with you to see what your needs are and if we have a policy that works for you.


Business Liability Insurance ?

form_title=Business Liability Insurance form_header=Protect your business with the right business liability insurance for your needs. What is the annual revenue of your company?=_ Does your company currently have insurance coverage?= () Yes () No What type of business liability insurance do you need? (Check all that apply)= [] General Liability [] Workers Compensation [] Business Owners Policy (BOP) [] Property [] Professional Liability [] Business Travel [] Business Automobile


Commercial Insurance?

form_title=Commercial Insurance form_header=Manage your risk with a commercial insurance policy tailored to fit your specific business needs. Number of Full Time Employees:=_ Currently Insured:= () Yes () No Years In Business:=_ Type of Insurance Needed (Check all that apply):= [] Business Owners Policy [] Commercial Auto Insurance [] Business Property Insurance [] Business Liability Insurance [] Home Business Insurance [] Workers' Compensation [] Business Umbrella Liability [] Professional Liability Insurance [] Directors and Officers Liability [] Business Identity Theft [] Group Health Insurance [] Business Life Insurance [] Key Person Life Insurance [] Agricultural Insurance [] Product Liability Insurance [] Personal Insurance [] Not Sure [] Other