When you start a small business you will need to have insurance. You would be wise to shop around. Triple A rated carriers like Farmers Insurance, State Farm and All State are definitely places to get quotes from, but also be sure to check out your local independent insurance agents as well. When shopping for a quote there is some things you will need to know. For instance you SIC code and business category. If you are involved in more than one, it pays to look at both SIC codes to see which category is preferred by the agents underwriters. Some SIC codes many insurance companies will not even touch. For instance Car Washes, Amusement Parks, Aviation Businesses and security companies. But there are insurance companies who specialize in these areas. Perhaps you might wish to thumb through a recent trade journal to see which insurance companies are actively seeking clients in those categories. You will be glad you did; also do not forget to check online as well.

You will also need other data when shopping for quotes; you will be asked such things as: Address of Business Office; are you running your business out of a home or commercial location. If it is a commercial office; what is the square feet of business location, customer area. What is the age of the building; is it made of masonry or frame construction? How many floors? What types of business tenants occupy or share the building? The main concern of the underwriter’s in some businesses is; where the supplies are stored? Especially if chemicals are used in your business. If you are a mobile service; are the chemicals stored on a vehicle? Where is the vehicle parked.

Insurance agents will also ask you how many years have you been in business? How much experience do you have; what are your projected and current gross annual receipts? How many full time and part time employees do you have? If you have mobile service vehicles you will need the full name, social security number and drivers license number for all employees who will be driving the vehicles. The more current our files, the happier the underwriters and the more information you bring with you when shopping for quotes the happier the agent. Happiness equates to a better deal, more shopping on the agents part and better relationships will all the parties concerned. Think on this when shopping for Business Insurance.

Lance Winslow

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