It is definitely easy to get business insurance quote. All you need to do is go on web and make a few clicks, fill up an online quote form and get the quotes in your inbox within no time. Needless to say, the process is faster and easier and has been made very user-friendly. Within no time, prospective buyers can get multiple insurance quotes, and compare them absolutely for free to get the best deals. There is no harm in contacting your local insurance agent when looking for the right quote as business insurance can be complicated to understand. Every business and its insurance needs are going to be different.
When you get business insurance quote, whether from an online source or an offline one, be prepared to give some specific information related to your business. There are some standard questions that you will be expected to answer before you are given the quote. The purpose is to get general information about the business so as to place the right quotes. This information will help the insurance agent or company to understand who you are and what you do, and offer you with the right amount of coverage.
You will be asked to give the following basic information related to the business:
- name of the business
- Contact name and billing address
- Number of employees, both full-time and part-time
- If you are applying for a new insurance
- If you have an existing business policy and are asking for more cover
- If you are renewing an existing business policy
- Legal entity/status of the business- whether it is a joint venture, corporation, in partnership, is a sole proprietorship, limited liability. Corporation, trust; etc.
- The number of years the company has been in business
- Gross Annual Payroll
- Gross Annual Revenue
- The number of years you have been an owner in the industry
- Briefly describe the business.
- Give choice of coverage.
- Social Security number or Federal Tax ID number
The form for business insurance quote will also contain several coverage options that are specifically designed for a business, like general liability policy, business owner’s policy, workers compensation, commercial auto policy, group health policy, etc.
You will also be asked to mention any prior losses experienced by your company. Don’t be afraid to mention the losses or think that it will raise those premium. The purpose behind getting the insurance quotes is to get the right coverage and protection after making some good comparisons. Any information provides by you is kept confidential.