Business Insurance: What to Know Before You Call

Your insurance policy is more than a monthly payment. Before you call your insurance company or shop for a new policy, know what you're paying for, what can affect your premium, and what questions to ask.

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• What does your business do? Be specific about the products or services you provide.

• Where does your business operate? Home, office, customer locations, job sites, online, or multiple locations.

• How many employees do you have?

• What equipment or property does the business own?

• Do you have business vehicles?

• Do you work with customers or clients at your location?

• Do you have a lease or contract requiring specific insurance?

• What insurance do you currently have? Have your current declarations page available if you have one.

• Have you had any claims? Know your recent claims history.

 

And one important reminder

Don't assume your personal insurance covers your business.

If you operate a business from your home, have business equipment, meet clients at your home, or use your personal vehicle for business purposes, it's worth asking specifically how those activities are covered.

 

What are you trying to protect?

The insurance conversation should ultimately be about protecting the things that could seriously hurt your business financially—not simply buying every coverage available