Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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As a business owner, you will have a lot of things to consider for your business, such as business insurance. You want to do everything possible to protect your business, which is why taking time to do a business insurance comparison will ensure that you understand all of the types of insurance options available.

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What’s more, you need to understand that most companies aren’t required to carry liability or property insurance, which means that many forgo this type of coverage thinking that they are saving money. Unfortunately, this could end up being a terrible decision for your company.

You are required to maintain workers compensation insurance, unemployment insurance and disability insurance for your employees. If you don’t, you are breaking the law and, at the very least, you will face serious fines for not carrying the right kind of insurance.

Why You Need to Conduct a Business Insurance Comparison

When it comes to property and liability insurance, even if you can only afford the smallest amount of coverage for your business, it is better than not having coverage at all. The decision to go without property and liability insurance could lead to you having to give up your company or close its doors because of the monetary loss.

If you have a place of business where clients, customers or employees come to, then you risk the possibility of someone getting hurt. This could lead to a lawsuit, even if you aren’t really at fault for the injury.

Not all insurance companies offer the same type of business insurance, which means you are going to have to do a business insurance comparison between insurance companies before you buy. Not only is this a great way to see what kind of insurance each company has to offer, it will also help you to find the lowest rates on your insurance.

There are several resources that you should use to do a business insurance comparison. When it comes to comparing the rates between companies, you should use a quote tool. However, when it comes to comparing reputations and claims profiles there are other resources you need to take advantage of.

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Use the Internet for Your Business Insurance Comparison

The great thing about the Internet is that it makes it possible for you to find out what a total stranger thinks about their insurance company. That person can live in the same city as you or in another state altogether. The bottom line is that their experiences can be valuable to you when it comes to your business insurance comparison.

You should consider using business forums to determine which insurance company offers the best business insurance. If you have a small business, then focus on sites for small businesses. If you have a medium or large business, then find sites that match your business size.

In addition, it is helpful to use forums that are specific to your type of business. This won’t always be possible, but if you have a hair salon, then you should consider forums that are for hair salon owners.

The reason that this is important is that people who are in the same business as you are likely to be faced with the same challenges as you are. This means that their insurance choices will be similar to the ones that you will make as well.

In addition to online forums, the Better Business Bureau is an excellent place for you to discover whether or not an insurance company has a bad reputation. The great thing about the BBB is that they show all of the complaints, the category the complains fall under, such as slow to pay claims, false advertisements and so on, and then they show whether or not the issue has been resolved.

For many people, the idea that a company has a lot of complaints isn’t nearly as bad as a company that doesn’t take the time to resolve their complaints. Keep that in mind if you see a company with tons of complaints but close to a 100% resolution for those complaints.

Lastly, you will want to look at your state’s insurance authority. Typically, most states have a Department of Insurance, but a few don’t, so you may have to check around for the insurance authority your state offers.

Small Business Insurance Comparison Helps with Growing Pains

If you have a small business, as it grows, you will find that your money becomes more tied up, making it more difficult to afford the costs of business insurance. That is why it is important to conduct a business insurance comparison when you grow so that you can ensure that you continue to save the most money on your business insurance.

The best way for you to do this is by using a quote tool that will directly compare business insurance for you. This takes all of the time and effort out of your search for business insurance. Start with our free quote tool and find the perfect small business insurance solution.

Enter your zip code and compare business insurance quotes now!