Top 5 Commercial Insurance Questions to Ask Your Agent

Starting a business is one of the most beautiful endeavors of your life. It’s a journey towards fulfilling your greatest ambitions and deepest desires. It’s your baby! And you’d do just anything to protect it from any harm. From picking the right office space to choosing the right furniture, everything needs to be perfect. Even your business insurance!  The right insurance will keep your baby sailing smoothly through the journey, protecting it from any imminent or unforeseen danger.

That being said, landing the right insurance for your business means understanding the intricacies of commercial insurance and making an educated decision. Therefore, its best to ask as many commercial insurance questions to your agent and discuss this at great lengths. 

5 Commercial insurance questions to ask your agent

How much coverage is right for your business?

There are a variety of insurance services like auto insurance, cyber liability or credit insurance, apart from the general liability insurance. It’s important to know that you’re not over-insuring your business, which could be very costly, or under-insuring your business, which could again, cost you a lot! 

Should you get Employment Practices Liability Insurance (EPLI)? 

This type of insurance offers coverage for any claims made by an employee under special circumstances like wrongful termination, discrimination or harassment. The way you shape and implement company policies will decide how vulnerable your business can be to these claims. Therefore, its best to ask your agent whether or not your business needs an employment practices liability insurance.

Is there a perfect coverage plan for your business?

This is one of the critical commercial insurance questions. Business insurance is subjected to many risks that are specific to industries and business sizes. Ask your agent to help you identify specific risks as per your niche and business type, and choose a right plan accordingly. 

What are the best options available in the market (in terms of pricing)?

Always ask your agent to acquire detailed quotes from multiple insurers. This allows you to go through the breakdown of various components offered in the package and their prices, as many insurers often provide cheap insurance but provide very little coverage for your needs.

What are your legal obligations to buy insurance?

This is very important. Unless you’re legally obliged, you don’t need to get any extra insurance coverage apart from general insurance. This is subjected to the laws enforced by local authorities that make it mandatory for businesses to have a certain level of coverage. Discuss it with your agent to find out exactly what you need to get going.

If you’re interested in buying business insurance and want to consult with a certified agent who’s willing to understand every aspect of your business, then you can check out Knight Insurance Services as we are one of the leading Insurance firms in California. Visit our website at www.knightins.net