Looking for business insurance can be challenging for new business owners. Given the importance of having the right coverage with the right agency, here is what you should look for when conducting your search.
Finding The Right Partner
Before you start your search, it’s best to ask your contacts for agencies they’ve worked with. If your contacts don’t have any recommendations, here is what to look for in an insurance agency:
- Reputation – assess the agency’s customer service reputation and willingness to pay claims.
- Experience – review the agency’s experience within your industry to make the right coverage recommendations.
- Financial Strength – determine the agency’s financial strength and ability to pay your claims.
Coverages You Need
As seen on https://www.byrnesagency.com, there’s a lot that goes into crafting policy with the coverages you need and your agency should be able to help you determine the right fit. As a new owner, here are two key liability coverages that you should ensure that your agency offers:
- General Liability Insurance – protects you against lawsuits from third parties claiming that they sustained an injury or property damage because of your business.
- Personal Liability Insurance – protects you against lawsuits from third parties claiming that they sustained a loss because of an error or omission on your part.
Use all available resources to find the agency that meets your needs. Making the right decision can prove to be beneficial to your business in the long run.