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Choosing the Right Small Business Insurance Quote

choosing the right small business insurance quote f

Whether you are planning to start a business or are an established entrepreneur, insuring your business is essential. This will help you protect your assets against potential problems. If you are wondering what details you should provide when looking at multiple business insurance quotes, we can help you. As a prominent name when it comes to small business insurance, we have the expertise and knowledge to provide adequate guidance. Read on to learn about the essentials so that you can choose a suitable insurance policy to safeguard your business.

Information Required for Choosing a Business Insurance Quote

  • Basic Details about Your Business
    This covers general information about your establishment, including your registered business name, mailing address, other business locations, revenue, number of employees working, products or services offered, and more. You should also state how much coverage you require.
  • Property Details
    Since the place of establishment forms an essential part of your business, you may have to provide the following information about it:

    • Age of the building
    • Total area and layout
    • Construction materials used
    • Security systems installed
    • Value of tools and equipment
    • Cost of furniture and fittings
    • Renovations and improvements made
  • Potential Business Risks and Exposures
    Every establishment has some sort of risk, which typically depends on the size of your business, products and services provided, and more. You may have to provide relevant information regarding such exposures when choosing a business insurance quote.
  • Previous Claims
    If you’ve made a business insurance claim recently, you may have to provide the details regarding the event and the claim amount.

Determining Your Premium Amount

The number of years you’ve been in business, its nature, exposure to risk, the quality of your property and its location, products and services you offer, and your past claims are a few factors that affect your insurance premium amount. These details will be used to analyze potential risks to your business, and the higher your risk is, the higher your premium will be. Listed below are a few important types of business insurance policies you should opt for:

  • General liability insurance
  • Workers’ compensation
  • Disability and unemployment insurance

Working with a Business Insurance Broker

If you choose to work with a qualified broker, they will provide you with multiple quotes, depending on your business. They will collect the required information from you and come up with the most suitable options based on your needs and budget.

Get an Accurate Business Insurance Quote with Us

Choosing the Right Small Business Insurance Quote

At Orr and Associates, we are dedicated to helping our clients find the most suitable business insurance policies. Customer satisfaction is of the utmost importance to us. We believe in providing high-quality services on time with the help of our professional business insurance brokers. They will work to understand the nature of your business and can come up with the most suitable coverage options within your budget.

If you are looking to purchase a business insurance policy, you can request an online quote with us. You could also call us at 905-833-6691 or toll-free at 1-866-521-5926 if you have any questions.

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