Your needs are determined by the type of business run, which also determines your assets (material or immaterial such as patents and trademarks).
Basically, the composition of your company’s assets:
- Heavy machinery
- Office equipment
- Buildings and real estate
- Vehicles
- Employees
Will determine if you need:
- General Liability
- Contractor All Risk insurance
- Commercial building coverage
- Auto Insurance
- Worker’s Compensation insurance
Why do you need a Commercial Insurance Broker ?
You can shop around yourself, spending countless days calling, reading reviews online, asking for quotes, studying each policy, and comparing one insurance company against another and, in the end, let the one choose the alleged best plan. Or you can choose a Commercial Insurance Broker, because he will be able to analyze your needs and offer you the best coverage possible after he did all the research.
How to choose the right Commercial Insurance Broker ?
In order to choose the right Commercial Insurance Broker, there are questions you need to ask yourself:
Do I want an Insurance agent or an insurance broker? An insurance agent deals mostly with administrative work for an Insurance Company but can also be independant. A commercial insurance broker is an independent, licensed agent, able to match your needs with the best insurance company.
Will he understand my needs and work within my means? Establishing your budget for insurance premiums should be discussed with your CFO or your CPA then with your commercial insurance broker in order for him to find the best plan possible within that budget.
Can I count on availability and quality customer service? Whether online, by phone or in person you should be able to contact your commercial insurance broker either to file a claim or for an update on your assets, needs, and company’s growth.
The task seems arduous. Much less, however, than trying to find an insurance company that best fits your coverage needs on your own. A commercial insurance broker will answer all your questions and explain what the requirements are for you and your business to be properly insured.
Hotwire Insurance Services, a full-service independent agency, works for you and not insurance companies and does not charge broker’s fee. They address all your needs and tailor a custom insurance solution. Hotwire Insurance Services local agents can answer all your insurance requests.
